Copper Price Prediction for Tomorrow 21 May 2026: MCX at Rs 1,334 and Nvidia Catalyst

The copper price prediction for tomorrow on 21 May 2026 is cautiously positive after MCX copper traded at Rs 1,334.30 per kilogram on Wednesday, down a marginal Rs 3.25 or 0.24 per cent in morning trade, reflecting a holding pattern as markets await two dominant overnight catalysts: Nvidia’s fiscal Q1 FY27 earnings after the US close tonight and US May PMI data releasing on 21 May. The copper price prediction for tomorrow is uniquely tied to the Nvidia outcome because data centre construction, which consumes significant copper wiring, is the fastest-growing segment of copper demand globally.

Ankit Jaiswal, Senior Research Analyst at Univest, notes that the copper price prediction for tomorrow faces two opposing forces: the US-China trade truce is constructive for base metals demand, while the hawkish FOMC stance and climbing US Treasury yields are strengthening the Dollar and creating headwinds for dollar-denominated commodities. Kunal Singla, Associate Director at Univest, adds that the copper price prediction for tomorrow will be most influenced by Thursday’s US PMI manufacturing data, which provides the clearest forward demand signal for industrial metals.

MCX Copper Today: 20 May 2026 Reference Data

Copper Price Prediction for Tomorrow: Key Drivers

• Nvidia Earnings as Data Centre Proxy: A single Nvidia data centre server rack uses approximately 2 to 4 kilometres of copper wiring. With hyperscalers (Amazon, Microsoft, Meta, Google) collectively planning USD 725 billion in 2026 capital expenditure, a positive Nvidia earnings beat reinforces the structural copper demand thesis embedded in the copper price prediction for tomorrow. Wall Street expects Nvidia to report approximately USD 79 billion in quarterly revenue tonight.
• US PMI Manufacturing Data (21 May): The US May PMI manufacturing data releasing Thursday provides the most direct forward indicator for industrial copper demand in the copper price prediction for tomorrow. A reading above 50 would confirm manufacturing expansion and is constructive for copper prices. A sub-50 reading would signal contraction and add short-term pressure.
• Dollar Strength Headwind: The hawkish FOMC minutes with four dissents have strengthened the US Dollar, creating an inverse headwind for dollar-denominated copper in the copper price prediction for tomorrow. MCX copper is additionally cushioned by the Rupee at Rs 96.38, which inflates the rupee-denominated price even when international copper is flat.
• Trump Cancels Iran Strike: Trump cancelled the planned military strike on Iran on Gulf allies’ appeal, reducing overall geopolitical risk premium across commodities. Lower geopolitical premium modestly reduces the safe-haven demand component of copper in the copper price prediction for tomorrow.

Copper Price Prediction for Tomorrow: MCX Levels

Trend: Cautiously Positive; Nvidia Beat Expected to Lift Sentiment

MCX Copper Support 1: Rs 1,302 per kg

MCX Copper Support 2: Rs 1,268 per kg

MCX Copper Resistance 1: Rs 1,368 per kg

MCX Copper Resistance 2: Rs 1,415 per kg

International Copper: $5.99/lb support, $6.20/lb resistance

Jaiswal’s copper price prediction for tomorrow identifies Rs 1,302 as the critical MCX support that must hold for the cautiously positive copper price prediction for tomorrow to remain valid. A Nvidia earnings beat tonight would provide indirect demand confidence for copper and could push MCX copper toward Rs 1,368 resistance on Thursday. A Nvidia miss would reinforce Dollar strength and push MCX copper toward the Rs 1,302 support in the copper price prediction for tomorrow.

Track live MCX copper prices on the Univest Screener.

Download the Univest iOS App or Univest Android App for daily MCX copper price tracking and commodity predictions.

Conclusion: Copper Price Prediction for Tomorrow 21 May 2026

The copper price prediction for tomorrow on 21 May 2026 is cautiously positive, with MCX copper at Rs 1,334.30 per kilogram and international copper futures at $5.9898 per pound. The Nvidia earnings tonight and US PMI data on Thursday are the two binary catalysts in the copper price prediction for tomorrow. Key support is Rs 1,302 and resistance is Rs 1,415 on MCX.

Disclaimer: Investments in securities and commodities are subject to market risk. This content is for educational purposes only and does not constitute investment advice. Univest is a SEBI-registered research analyst entity (Uniresearch Global Pvt Ltd, INH000012449). F&O and commodity trading involves significant risk. Consult a SEBI-registered advisor before investing.

FAQs

What is the copper price prediction for tomorrow on 21 May 2026?

Ans. The copper price prediction for tomorrow is cautiously positive, with MCX copper at Rs 1,334.30 per kg. Support is Rs 1,302 and resistance Rs 1,415. Nvidia earnings tonight and US PMI data on 21 May are the key catalysts.

What is the MCX copper price today?

Ans. MCX copper June futures traded at Rs 1,334.30 per kilogram on 20 May 2026, down Rs 3.25 or 0.24 per cent in morning trade. International copper futures were at $5.9898 per pound, up 0.96 per cent in the copper price prediction for tomorrow context.

Why does Nvidia earnings affect copper price?

Ans. Data centre construction is the fastest-growing copper demand segment globally. Each server rack uses 2 to 4 kilometres of copper wiring, and hyperscalers are planning USD 725 billion in 2026 capex. A Nvidia beat confirms this AI infrastructure buildout, supporting the copper price prediction for tomorrow.

What is MCX copper support for tomorrow?

Ans. MCX copper support levels for the copper price prediction for tomorrow are Rs 1,302 per kg (first) and Rs 1,268 per kg (second). Resistance levels are Rs 1,368 and Rs 1,415. These are technical levels derived from MCX options chain and price action analysis.

How does Dollar strength affect the copper price prediction for tomorrow?

Ans. A stronger US Dollar from hawkish FOMC minutes creates downward pressure on dollar-denominated copper internationally, but the Rupee at Rs 96.38 per Dollar partially cushions the MCX rupee-denominated price. The net impact depends on the magnitude of Dollar Index movement overnight in the copper price prediction for tomorrow.