Copper Price Forecast for Next Week

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

Copper futures finish the week lower as investors moved toward the US dollar amid escalating Middle East tensions and rising inflation concerns. The US-Israeli offensive against Iran entered its eight day with no signs of easing, while Iran launched fresh missile and drone attacks across the Gulf, intensifying global market uncertainty. At the same time, surging crude oil prices added to fears of renewed global inflation, reinforcing expectations that the Federal Reserve may delay interest rate cuts and supporting strength in the US dollar, which weighed on industrial metals. In China, the world’s largest copper consumer, the government announced a softer economic growth target of 4.5%–5% for the year, reflecting persistent deflationary pressures and the impact of elevated US tariffs. Authorities also stated that they would crack down on overcapacity in sectors such as steel, oil refining, and other heavy industries as part of efforts to address persistent oversupply. Meanwhile, copper sellers have been struggling to offload cargoes due to weakening demand in China, while traders are winding down shipments to the US ahead of potential tariffs. As a result, global inventories have surged, with stocks across major exchanges rising by more than 500,000 tons since the start of the year and Shanghai Futures Exchange inventories hitting a record high on Friday, highlighting the slowdown in demand from key consuming regions.

MCX Copper prices witnessed weakness during the week after failing to sustain the earlier recovery momentum. Prices faced rejection near the 20-DEMA and declined nearly -4%, eventually closing the week at 1198.20. The week closed above the 200DEMA placed at 1141.53, but remains below the 20-, 50-, and 100-DEMA placed at 1238.87, 1222.98, and 1204.87, respectively. This structure suggests near-term bearish pressure while the longer-term support remains intact. Open Interest declined by approximately 330 lots, reflecting position unwinding during the period of sideways-to-bearish price movement. RSI is hovering near the 41–42 zone, reflecting declining bullish momentum and indicating that the market is approaching the lower neutral range.

Overall, Copper prices are trading near a key support region, and the broader direction remains uncertain in the near term. Traders are advised to remain cautious around the retracement levels and wait for clearer directional confirmation, either through a sustained recovery above the short-term moving averages or a decisive break below support levels.

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Prediction given by Technical Research Team - Choice.