Copper Slides Below $13,000 Amid Broad Commodities Selloff -- Market Talk

Dow Jones02-02 17:31

0930 GMT - Base metals retreat amid a broader commodities market selloff, with London Metal Exchange copper futures slipping back below $13,000. "The heavy selling in the precious metal sector weighed on sentiment across the broader metals markets," analysts at ANZ say. "Copper retreated from its record high amid frenzied trading as investors liquidated positions." Copper surged past $14,000 a ton last week, driven by a weaker dollar and strong investor demand for physical assets as well as a spike in activity on China's exchanges. In early trading, LME copper futures are down 1.5% to $12,877.50 a metric ton, while aluminum is down 2.3% to $3,063.50 a ton. The U.S. dollar index is up 0.2% to 97.18, making dollar-denominated commodities more expensive for overseas buyers. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

February 02, 2026 04:31 ET (09:31 GMT)

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