Copper Extends Rally to a Fifth Straight Session as Gold and Silver Ease

Copper extended its rally on Monday, September 21, 2026 (30 Shahrivar 1405), trading up about 1.8 percent to around 6.74 dollars per pound at the time of writing, its fifth consecutive session of gains. Global gold and silver eased about 0.8 percent and 0.2 percent respectively over the same period. Arzdigital reported that signs of stronger demand from China, combined with supply concerns, have supported copper prices. Several Chinese copper smelters are due to shut for scheduled maintenance in October and November, while congestion at the port of Shanghai has clouded the pace of import arrivals. The Yangshan copper premium, a gauge of Chinese import demand, hit its highest level since November 2022 last week and remains elevated. Rising US copper imports ahead of possible tariffs on refined copper have also tightened supply in other markets. EcoIran separately reported copper prices rising more than 1 percent the same day.