Copper prices tumbled to $4.79397 per pound this morning, continuing a sharp downward trend that began earlier this week.
TradingView data published by analyst mattcamen shows the industrial metal dropped 0.33% since market open on April 4, 2025.The price chart reveals a dramatic collapse in copper values over the past 48 hours.
Copper traded steadily above $5.00 per pound throughout late March before suffering a precipitous fall on April 3rd.The metal has since formed a clear pattern of lower highs and lower lows on hourly charts.
Todays trading session opened at $4.80925 and briefly touched a high of $4.81685 before sellers pushed prices down to $4.79296.The current price represents a nearly 8% decline from the $5.20 level seen just days ago, erasing weeks of gains in the process.
Technical indicators suggest strong bearish momentum dominates the market.The steep downward trajectory shows no signs of reversal yet.
Copper now tests critical support around the $4.80 mark after breaking through multiple technical levels during its rapid descent.Copper Prices Plunge Below $4.80, Marking Steep Decline From March Highs.
(Photo Internet reproduction)Market analysts attribute the sell-off to renewed global economic concerns.
Trade tensions have escalated this week following new tariff announcements.
China, which consumes roughly half of global copper supplies, faces particular uncertainty in the current climate.Copper Prices Slide Amid Economic UncertaintyThe industrial metal serves as a key barometer for manufacturing activity and economic health.
Its recent price action signals growing pessimism about near-term growth prospects among traders and investors.
Mining companies stocks have suffered accordingly, with major producers reporting significant share price declines.Trading volumes have surged during the sell-off.
Institutional investors appear to be reducing exposure to industrial commodities amid the uncertain economic outlook.
The high-volume selling suggests conviction behind the bearish move rather than a temporary correction.Coppers price action contrasts sharply with its performance earlier this year when supply concerns drove prices to multi-year highs.
The metal had benefited from infrastructure spending plans and green energy initiatives that require substantial copper inputs.Market participants now watch for stabilization signs as prices approach the psychologically important $4.75 level.
The speed and magnitude of the current decline may eventually attract bargain hunters.
However, the trend remains decidedly negative for now.