[Copper retreats 0.6% as dollar hits 18-month high; aluminium breaks below 3,000 USD/tonne]

Published: Oct 15, 2026 18:47 (GMT+8)

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Copper eased on Wednesday after touching a three-week high earlier in the session, as US inflation data revived rate-hike expectations and lifted the dollar. Benchmark three-month copper on the London Metal Exchange closed down 0.6% at 14,484.50 USD/tonne as of 16:00 GMT, having earlier risen to 14,700 USD/tonne, its highest since 23 September. US consumer prices accelerated last month on surging gasoline costs, pushing the dollar to an 18-month high, and CME FedWatch now puts the probability of a late-October rate hike at 41.5%; higher rates tend to weigh on industrial metals. Mine-side disruption still underpins copper: BHP's Escondida supervisor union and company representatives have reached a preliminary agreement, easing strike risk, while Chile's Centinela mine and two striking unions resumed talks on Tuesday, and Codelco has partially suspended operations at El Teniente after a fatal landslide. The ICSG forecasts a global refined copper surplus of about 104,000 tonnes in 2026, widening to 368,000 tonnes in 2027. Aluminium fell 1.7% to 2,986.50 USD/tonne after breaking the 3,000 USD/tonne support level to 2,978 USD/tonne, its lowest since 31 December last year. Zinc lost 0.4% to 3,715 USD/tonne, lead 0.2% to 1,898 USD/tonne, nickel 0.2% to 15,550 USD/tonne, and tin 3% to 50,210 USD/tonne.

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