Copper Hits Record Near $6.63 a Pound, Then Slips to Around $6.27
2026-06-08 13:08:25
Copper set a record near $6.63 per pound on June 2 but has since eased to around $6.27, about 6% below the peak. Options positioning has turned bullish, according to BeInCrypto, but the outlet flags caution signals including a potential double-top near the record, a firmer US Dollar Index (DXY), and heavy net-short positioning by commercial hedgers in the latest CFTC Commitments of Traders report. BeInCrypto ties longer-term demand to AI data center buildouts, citing JPMorgan’s estimate of about 475,000 tons of copper demand from data centers this year.
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