Copper Hits Lowest Close Since Late July on AI and Tariff Concerns

Three-month London Metal Exchange (LME) copper futures closed at $13,768 per metric ton on Nov. 6, their lowest close since late July. That figure is a closing price, not an intraday low.

Market concerns included the possibility that a Democratic sweep could make U.S. copper import tariffs less likely. Traders also weighed the risk that tighter artificial-intelligence regulation could slow investment in AI infrastructure.

The Nov. 6 close came three days after the Nov. 3 intraday low of $13,883 per metric ton, copper’s lowest intraday level since Aug. 19. During that earlier session, futures fell below $14,000 per metric ton and were down 3.2% at their weakest point. Technology shares also declined as concerns about copper demand weighed on the market.