Copper 2026 Forecast Update - May 15, 2026
Copper Has Entered the Bottleneck Phase
In January, we published our 2026 Copper Forecast.
The thesis was simple.
Copper was no longer just a cyclical industrial metal. It was becoming the wiring layer of the next global system.
AI infrastructure. Grid expansion. Electrification. Energy security. Industrial remilitarization.
Since then, copper has moved exactly where the framework said to watch.
The direction was right.
But getting the direction right is only the first layer.
The harder question is what happens after the market reaches the zone that mattered.
That is where this update begins.
Copper is no longer in the same phase it was in when we published the original forecast. The pressure points have changed. So has the risk map.
Below is the full update to our 2026 Copper Map, including what changed, what the market is still missing, and where we think copper goes from here.
Exclusively for Inner Ring subscribers.
Where Copper Trades Now
Copper is now pressing against the range we were watching in January.