Copper Price Forecast for Next Week

Copper Price Forecast for Next Week (25th - 29th May 2026)

MCX Copper prices rose around 1.11% in a week amid optimism surrounding the high-level meeting between US President Donald Trump and Chinese President Xi Jinping. Trump said "a lot of good" came from the talks and claimed both nations had reached "fantastic trade deals," while Xi stated the two sides agreed to stabilize trade ties, expand cooperation, and manage differences constructively. Market sentiment also improved after Trump said Washington and Beijing shared similar views on ending the Middle East conflict and keeping the Strait of Hormuz open, while China's foreign minister called for safeguarding the key shipping route to ease supply disruption fears. The Yangshan copper premium, a key gauge of China's copper import demand, rose 3% to $72 a ton, the highest since mid-April, signaling resilient demand. On the supply side, China's sulfuric acid export restrictions and disruptions to sulfur production in the Middle East tightened global supply conditions, although on-warrant copper inventories on the SHFE increased this week. Demand from China's clean energy and technology sectors continued to offset weakness in the property market, while investors now await key Chinese economic data including industrial output, retail sales, unemployment, housing prices, and fixed investment figures.

MCX Copper prices seen trade in a sideways to bullish trend, with prices making a high near 1414 during the week before witnessing some profit booking at elevated levels. Despite the correction from highs, Copper managed to close the week at 1340.10, sustaining firmly above all key daily moving averages with 20-50-100-200 DEMA placed at 1317.60, 1280.40, 1255.40 and 1206.85 respectively. Open Interest declined by around 1100 lots, reflecting signs of profit booking after the recent price up move, rather than aggressive fresh short additions. The decline in Ol alongside elevated prices suggests traders are partially unwinding long positions following the strong rally seen in previous sessions. Technical indicators continue to support bullish undertones, with RSI hovering near 59.14 while the RSI average stands around 66.35, indicating momentum has cooled slightly from overbought territory but still remains in a positive zone. Price action also continues to hold above the rising trendline support, reinforcing the ongoing higher-high and higher-low formation on the daily chart.

Overall, Copper prices remain in bullish momentum, and traders may continue to prefer a buy on dips strategy as long as key support zones remain intact.

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Prediction given by Technical Research Team - Choice.