Copper Gains for Fifth Straight Session
Copper futures climbed to around $6.65 per pound on Monday, extending gains for a fifth consecutive session, supported by signs of stronger demand and expectations of tighter global supply. The Yangshan premium, a key gauge of Chinese copper demand, rose to $121 a ton last week, reaching its highest level since November 2022. Copper also benefited from expectations of sustained long-term consumption driven by data centers and renewable energy projects. On the supply side, major producers including Chile, Indonesia and the Democratic Republic of Congo continued to face disruptions at several key mines due to operational issues, fatal accidents and severe storms, among other factors. Meanwhile, traders are closely watching US copper tariff policy and its potential effects on global trade flows.
65 per pound on Monday, extending gains for a fifth consecutive session, supported by signs of stronger demand and expectations of tighter global supply. The Yangshan premium, a key gauge of Chinese copper demand, rose to $121 a ton last week, reaching its highest level since November 2022. Copper also benefited from expectations of sustained long-term consumption driven by data centers and renewable energy projects. On the supply side, major producers including Chile, Indonesia and the Democratic Republic of Congo continued to face disruptions at several key mines due to operational issues, fatal accidents and severe storms, among other factors.
Meanwhile, traders are closely watching US copper tariff policy and its potential effects on global trade flows.