Copper Steadies as Market Digests Weak Volumes, Technical Pressure, and Mixed Fundamentals

Copper prices stabilized at $4.57 per pound on September 8, 2025, as the market absorbed muted demand and shifting global supply.

Data from official LME and Shanghai exchanges show flat volumes overnight, with futures contracts lingering near last week’s closing prices. The muted session followed a period of significant volatility that put market watchers on edge.

Major copper exchanges signaled no clear directional bias as fundamentals remain mixed. Lower Chinese output, confirmed by official data, underscored persistent supply tightness in the physical market.

Meanwhile, Chile’s recent forecast revision showed continued risk to global supply, adding support. Global trade flows shifted as U.S. tariffs redirected Chilean exports. Nevertheless, transaction volume failed to surge, confirming skepticism among both buyers and sellers.

Macroeconomic worries tempered the recovery. Investors tracked weaker-than-expected U.S. economic data and speculation around possible central bank rate adjustments.

These factors affected copper-linked ETFs, which saw stable positions after earlier outflows in July and August. Technical signals contributed to a cautious market posture. The daily chart shows copper moving sideways, consolidating after a sharp summer drop.

Price action stayed anchored around key moving averages, including the 50-day SMA just below current levels. The MACD indicator, based on the 12 and 26 EMA, hovered near a bullish crossover, but histogram bars remained only slightly positive, revealing weak upward momentum.

RSI, calculated over 14 periods, recovered from prior oversold conditions but stayed at 43, below the neutral 50, indicating faint buying pressure. Bollinger Bands contracted throughout the last twenty-four hours.

Price moved near the band’s lower edge, signaling low volatility and potential for future expansion. Major support lay at $4.47, having repeatedly turned back selling.

Resistance loomed at $4.63 and $4.74, making upward breakouts unlikely without a broader change in sentiment or news flow.

The 4-hour chart painted a similar picture, with persistent rangebound movement, no evidence of strong accumulation, and a MACD line still marginally negative.

The RSI readings at 46 confirmed momentum remained on the sidelines. The Global Liquidity Index NDQ as shown in yellow did not show signs of improvement; instead, it traced a sideways path below recent averages, providing no liquidity-driven lift for copper.

Official exchange data pointed to weak spot transactions and little evidence of speculative money entering the market. Despite various supportive headlines from South America and China, the copper complex remained stuck in a holding pattern.

Unless a clear catalyst emerges, both macro and technical signals suggest an uneasy equilibrium for copper prices in the near term.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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