Copper Price Forecast for Next Week

Copper Price Forecast for Next Week (3rd  - 7th November 2025)

Copper prices hit a record high of $11,196 per tonne this week, driven by a tight market where supply cannot keep pace with growing demand. The primary pressure comes from operational restrictions facing copper mines in Chile, the world’s largest copper producer, leading to reduced supply capacity. This upward trend is further supported by positive macroeconomic sentiment, including an improved trade agreement between the United States and China and the current stance on Federal Reserve interest rates. Essentially, the structural weakness in Chilean production is exacerbating a global supply deficit, keeping market prices highly elevated.

MCX Copper November contract has continued its upward momentum for the 3rd consecutive week, inclined by +1.72% past week and managed to settle on a positive note at 1011.05. Price has posted rise for the 3rd consecutive month, surged by +6% in October itself. Copper price has gapped up in past week and tested the peak of 1024.90 in the middle of the week. On Daily timeframe, we can observe an Inside bar formation which signifies potential reversal in Copper price. However, price has continued to move upside holding its key moving averages i.e. 20, 50 and 100-DEMA levels which are placed at 991, 958.50 and 928.50 respectively. Daily SAR has been placed at 954.65.

Looking at OI levels, we can observe a significant long buildup to 9470 lots with recent price-rise which signifies strength in a bullish trend. RSI levels are hovering over 60 on Daily as well as Weekly chart.

We are expecting Sideways to Bullish trend in next week in Copper and traders may look for Buy-on-dips opportunity.

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Prediction given by Technical Research Team - Choice.