Copper Price Update – May 13, 2026
Copper prices continued their upward trajectory in May 2026, with LME three-month copper trading at **10,850permetricton∗∗asofthiswriting,up1210,850permetricton∗∗asofthiswriting,up1210,845 set in March 2025.
Current Copper Price Snapshot (May 13, 2026)
| Benchmark | Price | Change (YTD) | Change (YoY) |
|---|---|---|---|
| LME Cash Copper | $10,820 / ton | +11.5% | +18.3% |
| LME 3-Month Copper | $10,850 / ton | +12.0% | +18.7% |
| COMEX Copper | $4.95 / lb | +11.8% | +17.9% |
| SHFE Copper (China) | 82,500 RMB / ton | +10.5% | +16.5% |
Recent Price Movement
| Period | Price Range | Key Events |
|---|---|---|
| Jan-Feb 2026 | 9,400–9,400–9,800 | Steady climb on Chinese stimulus, EV demand |
| March 2026 | 9,800–9,800–10,450 | Supply concerns from Chile (production cut) |
| April 2026 | 10,200–10,200–10,800 | LME inventory drops to 15-year low |
| May 2026 (to date) | 10,600–10,600–10,900 | Geopolitical tensions, fund buying |
The market has added approximately $1,450 per ton since the beginning of 2026.
Why Is Copper Price Rising?
1. LME Inventory at Critical Low Levels
LME registered copper inventories fell to 48,000 tons in early May 2026, the lowest level since 2008.
| Date | LME Inventory | Days of Global Consumption |
|---|---|---|
| January 2026 | 125,000 tons | ~2.5 days |
| May 2026 | 48,000 tons | ~1.0 day |
2. Supply Disruptions from Major Mines
| Country | Mine / Producer | Disruption | Impact |
|---|---|---|---|
| Chile | Collahuasi | Production cut due to water shortage | -30,000 tons |
| Peru | Las Bambas | Community protests, shipping delayed | -25,000 tons |
| Panama | Cobre Panamá | Still closed (environmental dispute) | -350,000 tons annually |
| Zambia | Various | Power shortages affecting smelters | -20,000 tons |
3. Chinese Demand Remains Strong
| Sector | 2026 Demand Growth (YoY) | Comment |
|---|---|---|
| Electric vehicle production | +28% | Average 80kg copper per EV |
| Solar power installations | +35% | Strong government support |
| Power grid investment | +15% | State Grid spending |
| Real estate (construction wire) | -5% | Partial offset |
4. US Dollar Weakness
The US Dollar Index (DXY) has fallen 6% year-to-date, making copper cheaper for non-US buyers and supporting higher prices.
Analyst Forecasts – How High Will Copper Go?
| Institution | Price Target (12 months) | Rationale |
|---|---|---|
| Goldman Sachs | 12,000–12,000–12,500 | Supply deficit + China green energy |
| Citi | 11,500–11,500–12,000 | Inventory will remain tight |
| JP Morgan | 11,000–11,000–11,500 | Gradual demand growth |
| Morgan Stanley | 10,500–10,500–11,000 | Potential for modest correction |
How This Affects Copper Product Prices
| Copper Product | Raw Material Cost Impact | Estimated Price Change (3 months) |
|---|---|---|
| Copper Pipe / Tube | Direct (copper content 70-99%) | Expected +8-12% |
| Copper Rod / Bar | Direct (copper content 70-99%) | Expected +8-12% |
| Copper Wire | Direct (copper content 99%) | Expected +10-15% |
| Brass Products | Partial (copper content 60-70%) | Expected +5-8% |
| Bronze Products | Partial (copper content 70-90%) | Expected +6-10% |
What Should Buyers Do Now?
| Buyer Profile | Recommendation |
|---|---|
| Immediate need (0-30 days) | Buy now – prices likely to remain high or increase |
| Short-term need (1-3 months) | Buy partially now (50%), monitor inventory levels |
| Long-term procurement (3 months+) | Consider long-term contract or price hedging |
| Stock building | Accelerate purchases – prices may not retreat |
Need a Firm Quote on Copper Products?
With copper prices at historic highs, obtaining a firm quote before placing orders is more important than ever.
Contact us for:
Current pricing on copper pipe, tube, rod, and wire
Price locking options for large projects
Long-term supply agreements with fixed or formula-based pricing
Contact our sales team today for a current quote.
