Comex copper futures momentum in COMEX copper futures slowed

Momentum in COMEX copper futures slowed slightly, with contracts near $4.00/lb after a week of gains. Traders are cautious ahead of Fed Chair remarks on the U.S. economic outlook, as any hawkish tones can weigh on commodity prices. Silver recorded an even more impressive performance, benefiting not only from its safe-haven status but also from growing industrial demand. As of 1 October, the front-month silver futures contract was trading near $47.20 per oz, having clocked a colossal YTD rise of nearly 70%. "Imminent flagged tariff implementation should abruptly close the window for further significant U.S.-bound copper shipments (possibly for the rest of 2025)," they said in a Wednesday note, saying this would cause a pullback in ex-U.S. pricing. Sharp buying lifted COMEX copper futures to $4.08/lb after reports of power shortages affecting smelter operations in Southeast Asia. Supply-side disruptions continue to influence sentiment more than macroeconomic headlines this week.