Copper prices rose on October 19, 2026, after China reported stronger-than-expected economic growth for the third quarter. The National Bureau of Statistics said GDP grew 4.5% year over year, above analysts’ 4.4% forecast. Growth accelerated from 4.3% in the second quarter, improving the outlook for industrial metals demand.
September industrial production increased 5.5%, also beating expectations. The gain pointed to robust manufacturing and factory activity, key sources of copper demand. Strong industrial data helped offset persistent weakness in China’s property sector, a significant drag on the economy and copper demand.
The end of a strike at Antofagasta’s Centinela mine in Chile eased immediate supply concerns and could cap price gains. Still, stronger-than-expected Chinese data was the dominant market driver.