Copper Rises Amid Persistent Uncertainty in European Non-Ferrous Markets
European non-ferrous metal markets remain challenging due to geopolitical tensions and trade barriers. Middle East friction has disrupted trade flows, keeping uncertainty high.
Certain analysts predict that some individual metal markets may stabilize or see a modest upturn in the coming months. Copper prices are expected to continue rising in the fourth quarter of 2026, while aluminium is forecast to remain at an elevated level due to structural demand from the energy transition and constrained primary supply.
The London Metal Exchange (LME) saw copper hit a record peak of US$ 14,850 per tonne on August 17th, before slipping to US$ 14,535 on August 28th. Analysts at JP Morgan predict that copper will return to US$ 14,800 during the fourth quarter.
William Osnato, director of commodity data research and analysis at Barchart, noted that demand from data centres and power grids has driven lofty copper prices. Aluminium values have strengthened after a decline in June, supported by heavy inflows into the United States and attractive premiums.