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2026-11-04 11:04:31
[Democrats Expected to Take Full Control of Congress, Copper Prices Fall for Second Consecutive Day and Break Below $14,000/ton] (1) Preliminary results of the US midterm elections indicate that the Democratic Party is expected to take full control of Congress, causing the stock market to fall and copper prices to decline for the second consecutive trading day. (2) Copper is widely used in data centers and power transmission; in recent weeks, market concerns about artificial intelligence spending have put pressure on copper prices. (3) On Tuesday, copper prices fell below $14,000 per ton for the first time since September, facing the risk of breaking out of the trading range that has been roughly maintained over the past two months. (4) Analysts say that traders tend to be slightly risk-averse before the midterm election results are announced; copper prices have been catching up in recent weeks, and the future trend will largely depend on the future performance of the US stock market. (5) The preliminary results of the midterm elections clearly favor the Democratic Party, which means that the possibility of a political deadlock in Washington has increased; if high-growth sectors of the economy face more regulatory scrutiny, it may be a negative factor for the stock market and the US dollar. (6) However, a weaker US dollar is usually beneficial to commodities priced in US dollars.
