Copper futures fell as rising energy costs squeezed smelters. 4/2/26

May Copper futures faced downward pressure, opening on a gap lower and falling throughout the morning session before bouncing slightly to finish down 1.08%. The broader risk-off environment across equity and commodity markets pulled capital away from industrial metals. Simultaneously, shipping disruptions in the Strait of Hormuz are driving up energy costs, squeezing copper smelters that are already operating on thin refining margins. With rising energy costs in Asia stressing the Chinese economy, the world's largest copper-consuming nation faces potential demand reductions. Market participants are watching the upcoming April 6 deadline for negotiations, though a near-term reopening of the strait appears unlikely. Learn about trading futures and options at CME Group: https://www.cmegroup.com/markets/metals.html #Copper #Metals #Commodities