Copper finds broad economic applications — from infrastructure and mobility to household appliances — earning the moniker ‘barometer of the economy’. As seen from charts below, the structural drivers for copper demand are intact. However, the energy shock brought about by the war in West Asia has weighed on its medium-term outlook, tilting it to the downside. Elevated energy costs are likely to dent global economic activity, thus dampening copper’s demand. Conversely, a de-escalation in the conflict could support copper prices

Published on April 28, 2026