Copper Price Forecast for Next Week

Copper Price Forecast for Next Week (9th - 13th February 2026)

Copper prices ended the week on a positive note after the China Nonferrous Metals Industry Association urged the government to expand strategic copper reserves. China's factory activity expansion accelerates in January, private PMI showed Despite signs of rising inventories across major trading hubs, particularly in LME warehouses in Asia, suggesting that material originally destined for the US may have been redirected elsewhere. On the demand side, buying from Chinese fabricators and manufacturers slowed for a second consecutive day as businesses prepared for the Lunar New Year holidays. An industry group forecast that China's refined copper output will rise by about 5% this year, while the global refined copper market showed an apparent surplus of 206,000 tonnes over the first eleven months of 2025, but investors remained cautious ahead of next week's CPI and PPI data amid concerns over slowing growth and weak demand.

MCX Copper futures witnessed heightened volatility after an extended bullish rally, with prices facing sharp selling pressure. During the first week of February, prices initially recovered by +12.7%, however, by week-end, the contract declined -6.5% and settled at 1,242, aligning with the 50 DEMA The price is currently trading below the 20 DEMA placed at 1,280, while remaining above the 100-200 DEMA positioned at 1,172 and 1,097.3, respectively, indicating short-term weakness within a still-intact medium-to-long-term uptrend structure. From an indicator perspective, momentum remains mixed. The RSI is hovering near the 45-52 zone, reflecting loss of bullish momentum and increased consolidation after the recent correction. The MACD is positioned near the zero line with a flattening histogram, signaling weakening upside momentum and rising indecisiveness. Open Interest increased by +1,500 lots amid price volatility, suggesting fresh position build-up and active participation from both sides, rather than one-sided directional conviction.

Overall, Copper maintains a cautious-to-positive bias as long as key supports hold, with traders likely to look for selective bullish opportunities while support remains intact, though short-term volatility may persist.

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Prediction given by Technical Research Team - Choice.