--- title: "Weekly Recap | COPX.US -1.41%, copper steadies near highs" type: "News" locale: "en" url: "https://longbridge.com/en/news/299517017.md" description: "COPX.US fell 1.41% this week to close at $87.28, vs a 0.08% decline for the S&P 500, underperforming by about 1.33 percentage points. The week started softly: shares pulled back from Monday (Sep 14)’s open and on Tuesday (Sep 15) hit a weekly low near $83.10. Selling persisted on Wednesday (Sep 16) before the fund stabilised and rebounded on Thursday (Sep 17), then rallied to $87.42 on Friday (Sep 18), closing at $87.28. Weekly amplitude was 5.09% and daily volumes averaged about 2." datetime: "2026-09-19T07:19:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/299517017.md) - [en](https://longbridge.com/en/news/299517017.md) - [zh-HK](https://longbridge.com/zh-HK/news/299517017.md) generator: "portal-rs" --- # Weekly Recap | COPX.US -1.41%, copper steadies near highs ## The Week COPX.US fell 1.41% this week to close at $87.28, vs a 0.08% decline for the S&P 500, underperforming by about 1.33 percentage points. The week started softly: shares pulled back from Monday (Sep 14)’s open and on Tuesday (Sep 15) hit a weekly low near $83.10. Selling persisted on Wednesday (Sep 16) before the fund stabilised and rebounded on Thursday (Sep 17), then rallied to $87.42 on Friday (Sep 18), closing at $87.28. Weekly amplitude was 5.09% and daily volumes averaged about 2.55m shares, or 5.07% below the median. The final two sessions helped erase much of the early-week loss. ## Sector News Copper miners traded mixed this week. Southern Copper fell as much as 4.90% in Monday’s pre-market, pressuring sentiment. LME copper slid to a three-week low by Tuesday-Wednesday as inventories rose, then steadied near those lows. Among US-listed names, Freeport-McMoRan received a RBC target-price increase to $85.00 and rose 2.3%; Hudbay Minerals got a Buy from RBC Capital; Southern Copper gained 3.85% on Sep 17. Teck Resources fell 1.38% for the week, with consensus target below spot. Overall, copper hovered near record highs with large-cap miners earning mostly positive broker ratings, while inventory moves kept pressure on prices. ## The Week Ahead Next week’s calendar leans on US macro data. Tuesday (Sep 22) brings the Richmond Fed composite index (prior 4); Wednesday (Sep 23) sees EIA weekly crude and Cushing crude stockpiles (prior -0.64 and -0.342); Thursday (Sep 24) packs initial jobless claims, the current account deficit, new home sales and natural gas storage changes, with new home sales expected at 0.608 vs 0.607 prior. For a copper-mining fund, US manufacturing and liquidity prints matter; weaker macro data could keep copper range-bound near highs. After hitting a record high earlier in the week, copper pulled back to a three-week low before steadying, so watch whether prices can hold above that zone in the week ahead. ## In Short COPX.US trailed the market and closed lower for the week, but the late-week rebound pared the decline. On ratings, the tone was broadly constructive: Freeport-McMoRan and Hudbay Minerals drew buys from major banks, with targets above spot, while copper swung between a record high and a three-week low as inventories rose. Latest-day flow data show modest large-lot net selling against net buying in small and medium orders, pointing to a split tape. The picture is one of divergence at elevated levels: broker views remain upbeat and copper still has upside, but inventory and macro surprises could widen the short-term swings. The key to watch is whether copper can hold near its highs and how next week’s US data shape sentiment in industrial metals. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [COPX.US](https://longbridge.com/en/quote/COPX.US.md) ## Related News & Research - [Forget software: The COPX ETF is the pick-and-shovel AI trade hiding in plain sight](https://longbridge.com/en/news/291838572.md) - [METALS-Copper cools as LME inflows stem stock fears](https://longbridge.com/en/news/296317937.md) - [Nvidia Reportedly Just Landed $35 Billion In Chip Orders From Chinese Companies. Here's Why That Could Be Great News for the Stock](https://longbridge.com/en/news/302459774.md) - [BREAKINGVIEWS-Netflix morphs into same couch potato it smashed](https://longbridge.com/en/news/302451031.md) - ["Run for the Hills," Warns Investor About SpaceX Stock Before Earnings](https://longbridge.com/en/news/302454405.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**