HG Copper
COMEX-style copper, USD per pound, pooled from 24/7 venue perps.
What matters nowUpdated 8 h ago
- Freeport-McMoRan's October 2, 2026 SEC release said Grasberg mill throughput ran at about 67% of pre-September 2025 rates in Q3 2026, and it still expects 80% of capacity by mid-2027 and to approach full capacity by year-end 2027 1.
- The pooled 24/7 venue price was 6.7605 USD/lb at 11:53 UTC on October 13, 2026, up 0.037% from a prior close of 6.758 across 7 venues. Recent moves came with broad cross-asset swings: copper fell 4.77% on September 10, its largest daily drop in the series, as silver fell 5.54% and crude rose 6.25%, and rose 2.52% on September 17 in a broad metals and chips rally; no copper-specific cause was confirmed for either.
- US supply is pulling metal in: refined copper imports topped 200,000 tonnes in July 2026, the largest monthly volume in at least 12 years 2, and COMEX stocks hit a record 675,185 tonnes on August 26 after rising for 46 straight days 3.
- Freeport's Q2 2026 copper sales were 710 million lb at an average realized price of $6.17/lb, and full-year 2026 sales are expected to be about 3.1 billion lb 4. On the pooled venue price, open interest was about $33.9M and 24-hour volume about $37.0M, with an 8-hour funding rate of -0.0393%.
- The refined-copper tariff is the key catalyst: the June 30, 2026 Commerce deadline passed with no public ruling 5, a 15% refined-copper duty could start January 1, 2027 under a Section 232 proclamation, and Polymarket gives 34.5% odds that Section 232 tariffs hit copper cable by December 31, 2026. Freeport's Q3 2026 results are estimated for October 23, 2026 but are unconfirmed, and US CPI for September is due October 14, 2026 at 12:30 UTC.
Freeport-McMoRan (SEC 8-K) · Oct 2
OilPrice.com · Aug 17
Mining Reporters · Aug 26
Freeport-McMoRan (SEC 8-K) · Jul 23
OilPrice.com · Jun 30
Every venue
| Venue | Price | vs pool | 24h vol | Open int. | Funding 8h |
|---|---|---|---|---|---|
| binance perp COPPERUSDT · just now | 6.74 | +0.01% | $15.5M | $8.3M | 0.0000% |
| hyperliquid perp xyz:COPPER · just now | 6.73 | −0.13% | $7.0M | $12.9M | 0.0050% |
| bitget perp COPPERUSDT · just now | 6.80 | +0.88% | $4.1M | $11.7M | -0.0836% |
| okx perp XCU-USDT-SWAP · just now | 6.73 | −0.06% | $731.5K | $538.1K | 0.0000% |
| lighter perp 136 · just now | 6.74 | +0.08% | $162.0K | $547.3K | 0.0032% |
| kraken perp PF_XCUUSD · stale | 6.79 | +0.81% | $98.9K | $208.4K | -0.4563% |
| aster perp XCUUSDT · just now | 6.72 | −0.30% | $21.3K | $53.9K | 0.0000% |
| hyperliquid perp flx:COPPER · stale | — | — | — | — | — |
Pooled price = volume-weighted median of venues within 2% of each other. Venue markets for stocks, indices and gold are 24/7 perpetual contracts; they track but are not the official exchange price.
Open interest, 120 days
US$ millions, all venues
Funding, 120 days
Annualised %, OI-weighted. Positive: longs pay shorts.
NewsAll news →
Zambia's 10% duty waiver on copper concentrate exports set to expire September 30
Fastmarkets reported that Zambia's suspension of the 10% export duty on copper concentrate was due to expire on September 30, 2026 with no extension announced.
COMEX copper sets record of $6.7270 a pound as US stocks reach 675,185 tonnes
COMEX copper set a new record of $6.7270 a pound on August 26, 2026, above the prior $6.7140 high of August 12.
LME cash-to-three-month copper backwardation nears $550 a tonne, highest in five years
The LME cash-to-three-month spread reached close to $550 a tonne on Monday, August 17, its highest in more than five years.
BHP FY2026: copper output about 2 million tonnes and record underlying EBITDA of $18.2 billion
BHP reported FY2026 results on August 18, 2026 with copper output of about 2 million tonnes for a second consecutive year, and record underlying EBITDA of $18.2 billion at a 70% margin.
LME cash copper hits all-time high of $14,850 a tonne, 673.6 cents a pound
On August 17, 2026 LME cash Grade A copper set an all-time high of 673.585 cents a pound, or $14,850 a tonne, up 2.1% on the day, according to Cochilco's daily bulletin.
US copper imports hit 12-year high in July as LME stocks fall to 204,975 tonnes
US refined copper imports topped 200,000 tonnes in July 2026, the largest monthly volume in at least 12 years, according to reporting on August 17.
Cochilco cuts Chile 2026 copper output forecast to 5.27 million tonnes
Chile's copper commission Cochilco cut its 2026 mine output forecast to 5.27 million tonnes, down 2.6% from 2025, citing a weak first half.
Chile June output: Escondida up 45.8%, Codelco down 4.8%
Cochilco data for June 2026 showed Escondida, the world's largest copper mine, produced 111,400 tonnes, up 45.8% from a year earlier.
Chile lets Codelco keep $2.42 billion of 2025 profits for reinvestment
Chile authorized Codelco on August 10, 2026 to keep US$2.422 billion of its 2025 profits instead of paying them to the state.
Codelco halts Andes Norte expansion at El Teniente after new seismic risks
Codelco suspended development and construction at the Andes Norte expansion at El Teniente on August 4, 2026, after new seismic risks appeared.
First Quantum keeps 2026 Cobre Panama stockpile guidance at 30,000-40,000 tonnes
First Quantum said it is accelerating preparations to restart Cobre Panama, starting stockpile processing ahead of schedule and adding about 1,000 workers.
China H1 2026 copper concentrate imports flat at 14.6 million tonnes as TCs stay negative
China imported about 14.61 million tonnes of copper concentrate in January to June 2026, down 0.84% from a year earlier.
Freeport Q2 2026: copper sales 710 million lb at $6.17 a pound, Grasberg ramp on track
Freeport-McMoRan reported second-quarter 2026 copper sales of 710 million pounds and production of 786 million pounds, with an average realized price of $6.17 a pound.
Commerce deadline on refined copper passes with no public ruling
The Commerce Department's update on US copper markets was due June 30, 2026, and was the input for a presidential decision on a phased refined-copper duty.
Traders brace for June 30 Commerce milestone on a phased refined-copper tariff
SMM said the COMEX-LME spread had reached nearly $690 a tonne in early June as traders positioned for a June 30 milestone in the Section 232 copper investigation.