I asked if copper could still rally after reaching a long-term target in a June 5, 2026, Barchart article, where I concluded with the following:
In early June 2026, COMEX futures were around $6.30 per pound, while LME forwards were over $13,900 per ton. While upside targets of $6.8030 and $15,000 per ton are possible, risk-reward could favor the downside in the current environment. Since 2021, investing in copper has been optimal. In 2026, trading copper rather than investing could offer the greatest potential rewards. Copper could still rally and eclipse even the most bullish targets above $15,000 and $6.80, but selling at new record highs and buying ahead of critical technical support levels has been optimal for years, and I expect that trend to continue.
