Flooring Guide by Cinvex – , JAKARTA — Copper prices have experienced a five-day losing streak, retreating from the record highs achieved late last month. This price correction is closely tied to prevailing pressures in global stock markets, which have consequently dampened investor appetite for commodities.
According to Bloomberg data, copper prices edged down by 0.4% to US$10,625 per ton as of 10:07 AM Shanghai time. This figure represents approximately a 5% decrease from its all-time high of US$11,200, recorded on October 29, 2025. This sustained downward trend for copper marks its longest decline since July.
The weakness in copper prices is mirrored across other key industrial metals. Aluminum saw a 0.4% drop, zinc fell by 0.5%, and iron ore futures in Singapore also declined by 0.4%. In a broader market reflection, five out of six base metals listed on the London Metal Exchange registered losses during early Asian trading sessions today.
A week prior, this electrically conductive metal had soared to its peak, fueled by optimism surrounding a potential trade deal between the United States and China, which was expected to invigorate demand. This sentiment was further bolstered by a wave of supply disruptions that contributed to rising prices.
However, investor sentiment has since wavered amid growing uncertainty. Concerns about high stock valuations and a cloudier outlook for potential further interest rate cuts by the US Federal Reserve are now dominating the market narrative, redirecting focus from commodities.
Reporting on Wednesday, November 5, 2025, Reuters highlighted a significant downturn on Wall Street. The Dow Jones Industrial Average corrected by 257.15 points, or 0.54%, to close at 47,079.53. The S&P 500 declined by 66.08 points, or 0.96%, settling at 6,785.89, while the Nasdaq Composite plummeted 376.37 points, or 1.58%, to 23,458.35.
All three major Wall Street indices moved into negative territory following warnings from the CEOs of Morgan Stanley and Goldman Sachs about the potential for a stock market bubble. These cautionary statements emerged after a prolonged rally in the S&P 500, which had consistently hit successive record highs, primarily driven by euphoria surrounding artificial intelligence (AI) technology.
Technology stocks were a primary contributor to the Nasdaq’s decline. Notably, six of the seven leading AI-focused stocks within the “Magnificent Seven” group closed lower, underscoring the shift in investor confidence.
Adding to the cautious outlook, JPMorgan Chase CEO Jamie Dimon had previously cautioned about the potential for a significant market correction within the next six months to two years, attributing this risk to escalating geopolitical tensions. This perspective resonates with the current market anxieties.
Despite these warnings, Thomas Martin, Senior Portfolio Manager at Globalt, views market corrections as a normal phenomenon. “If the market experiences a 10%-20% correction in the next 12 to 24 months, that is quite normal,” he remarked, suggesting a degree of resilience in the face of volatility.
Furthermore, uncertainty is compounded by a partial US government shutdown, stemming from a budget deadlock in Congress that is approaching a record duration. The scarcity of official economic data is forcing market participants to increasingly rely on private data, including the ADP employment index, which is slated for release on Wednesday local time. In this environment of limited key economic indicators, statements from Federal Reserve officials are being closely scrutinized for any clues regarding the central bank’s future monetary policy direction.
Summary
Copper prices have experienced a five-day losing streak, falling approximately 5% from their recent record high to US$10,625 per ton. This correction mirrors broader weakness across global stock markets and other industrial metals, including aluminum and zinc. The earlier optimism fueled by a potential US-China trade deal and supply disruptions has now dissipated.
Investor sentiment has shifted due to concerns over high stock valuations and a less certain outlook for US Federal Reserve interest rate cuts. Warnings from prominent bank CEOs about a potential stock market bubble, following an AI-driven rally, have further impacted confidence. A partial US government shutdown is also contributing to market uncertainty, leading to increased reliance on private economic data and close scrutiny of Federal Reserve statements.