How The AI Stock Selloff Is Hurting Copper Price

Copper fell 3.2% on Tuesday to $13,883 a ton on the London Metal Exchange, a three-month low, as concerns about the AI boom spread from technology stocks to commodities. Prices recovered above $14,100 on Wednesday after the U.S. midterm elections. Ed Meir of Marex said copper seemed to be following the semiconductor decline, while the metal’s use in electrical infrastructure links it to data-center construction. Democrats’ victory in both chambers of Congress reduced expectations of U.S. tariffs on refined copper; Saxo Bank’s Ole Hansen warned that could hurt prices. Copper had reached a September record of $14,875.