Copper Price Forecast for Next Week

Copper Price Forecast for Next Week (15th - 19th June 2026)

LME Copper futures gained around 2% during the week, supported by optimism surrounding a potential U.S.-Iran peace agreement, which improved sentiment toward global growth and industrial metals demand. U.S. President Donald Trump indicated that a deal could be signed soon, although Tehran has yet to confirm. However, stronger-than-expected U.S. inflation data increased expectations of a Federal Reserve rate hike later this year, posing a potential headwind for long- term metals demand.

In China, copper smelters increased purchases of pyrite, a sulphur-rich feedstock, to benefit from rising sulphuric acid prices amid supply disruptions linked to the Iran conflict. At least six major smelters, including Jinchuan Group, expanded pyrite purchases this year. Meanwhile, China's refined copper exports surged 73% year-on-year to nearly 800,000 metric tons in 2025, with shipments to the U.S. rising more than tenfold to 203,005 metric tons, highlighting strong trade flows toward higher-priced markets.

Copper price has continued its downside momentum for the 3rd consecutive week, marking a support low at 1305.20 in past week and rebounding significantly towards the weekend and closed at 1335. Looking at Weekly timeframe, we can observe an indecisive candle formation towards the end of the Copper's price fall, marking a early sign of bullish price reversal. Price has failed to breakout the support of 50-DEMA level placed at 1309.60 currently. Major resistance would be at Daily SAR level placed at 1374.45. With the recent price-rebound, we can observe a rise in Ol level in the June contract to 15,570 lots, suggesting Long buildup.

We are expecting Moderately Bearish trend in Copper and if price breaks through the resistance levels, traders should go for a Long opportunity.

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Prediction given by Technical Research Team - Choice.