Copper and aluminum retreat as AI spending concerns rise

Copper and aluminum prices fell on October 13, 2026. The reason had less to do with mines and smelters than with server farms. Investors are growing nervous about how much money is being poured into AI infrastructure. That nervousness has turned into doubts about how much metal the world will actually need. What happened to metal prices Both metals retreated significantly during the session. The selling came as the wider AI and technology trade went through another rough patch. Part of that turbulence comes from a growing chorus of warnings. The concern is that the rapid expansion of data centers could hit financial obstacles. Building these facilities is expensive, and financing them at the current pace may get harder. Copper had been riding high before this pullback. Prices had recently hovered near record levels above $14,000 per metric ton. Demand tied to AI and electrification did much of the lifting. The South Korea connection The pain was not confined to metals. South Korea’s equity benchmark fell as much as 7% during the same stretch. The link is not random. Throughout 2026, South Korean stocks have moved in step with copper prices. Both have essentially been tracking the s...