Weekly Copper Review: COMEX futures supported after testing three-week low

Copper was supported amid mixed equities as weak US dollar curbed losses for the metal along with expectations of curtailed global supplies. The commodity had dipped near three-week low but bounced back in style and ended the week on a flat note at $6.58 per pound. International Copper Study Group (ICSG) noted that world copper mine production declined by 1.1% in the first half of 2026, with a decline in concentrate production of -2.6% more than offsetting an increase in solvent extraction-electrowinning (SX-EW) of 4.3%. Refined Copper output also marked a 2.10% drop on a monthly basis in June 2026. Disruptions in South America are adding to concerns about copper availability in last few days. MCX Copper futures approached Rs 1400 per kg before easing and eventually found a supported around Rs 1360 per kg.

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