Copper Prices Rise Globally as US Midterm Results Ease Market Uncertainty

Key Facts

Copper prices rose on the LME and SHFE following US midterm election results that eased market uncertainty. Finimize reported that the price increase was driven by a weaker US dollar and positive demand signals from China, making commodities cheaper for international buyers.

The Yangshan copper premium in China jumped to $205 a ton, marking its highest level in 12 years and indicating robust regional demand. This price action followed US economic data released on November 3, 2026, which showed JOLTs job openings reaching 7.523 million, exceeding the forecasted 7.1 million.

Market participants are looking ahead to critical economic data scheduled for tomorrow, including the US Unemployment Rate and Nonfarm Payrolls on November 6, 2026. Additionally, speeches from Federal Reserve officials Logan and Williams on the same day may provide further clarity on the economic outlook.