{
  "id": 12548099,
  "title": "Copper falls as dollar rally weighs on industrial metals",
  "url": "https://urgent.news/2026/10/07/copper-falls-as-dollar-rally-weighs-on-industrial-metals",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T04:48:30.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40443066/copper-falls-as-dollar-rally-weighs-on-industrial-metals"
  },
  "original_language": "en",
  "account": "Copper prices dipped slightly on Wednesday as the impact of higher oil prices and a stronger US dollar weighed on industrial metals. The benchmark three-month copper on the London Metal Exchange fell 0.25% to $14,379 per metric ton. The US dollar index, which gauges the dollar against a basket of currencies, rose 0.14% to 102.05. A stronger dollar can negatively affect industrial metals by increasing their cost for buyers using other currencies. Copper was also affected by higher oil prices, which surged due to supply concerns from an approaching storm in US oil-producing regions and attacks by Yemen’s Houthis on Saudi Arabia. Rising oil prices have increased inflationary pressures and prompted concerns that policymakers may need to raise interest rates. Higher interest rates can dampen demand for growth-dependent commodities like copper by slowing economic activity.\n\nAsian stocks weakened on Wednesday, with declines in AI-related stocks contributing to the drop. This decline helped to offset earlier gains from a rally that had previously supported copper prices. The consultancy S&P Global predicts that growth in the AI and defense sectors could boost copper demand by 50% by 2040.\n\nLater on Wednesday, traders will be looking to the Federal Reserve's release of minutes from its September policy meeting for indications of potential additional interest rate hikes. Aluminium, which rose 0.25%, was the only bright spot in the LME industrial metals complex. However, prices for this metal used in construction, packaging, and transport have fallen by over 17% since reaching a four-year high in June, pressured by easing worries about supply from the Middle East and expectations of new production capacity in Indonesia.\n\nZinc, lead, nickel, and tin also saw declines in the LME industrial metals complex, with zinc falling 0.23%, lead dropping 0.13%, nickel increasing by 0.11%, and tin decreasing 0.09%. The Shanghai Futures Exchange was closed and will reopen on Thursday when China returns from holiday.",
  "summary": "SINGAPORE: Copper prices receded slightly on Wednesday , weighed by rising oil prices and gains in the US dollar. Benchmark three-month copper on the London Metal Exchange was down 0.25% at $14,379 a metric ton by 0300 GMT. The dollar index , which measures it against a basket of currencies, rose 0.14% to 102.05. A stronger dollar can weigh on industrial metals by making them more expensive for…",
  "key_points": [
    "Copper prices fell 0.25% to $14,379 per metric ton on Wednesday",
    "US dollar index rose 0.14% to 102.05, negatively impacting industrial metals",
    "Higher oil prices and geopolitical tensions contributed to copper's decline"
  ],
  "editors_take": "A stronger dollar and higher oil prices, potentially leading to interest rate hikes, are set to dampen demand for copper and other industrial metals, weighing on their prices.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}