Copper Advances as Dollar Weakens

Copper futures climbed toward $6.60 per pound on Friday, snapping a three-session losing streak as the US dollar weakened amid concerns over a potential slowdown in the AI capital expenditure boom that has supported the American economy and financial markets. A softer dollar makes greenback-denominated commodities such as copper more affordable for overseas buyers, helping support demand. Prices also gained support from tightening supply, as labor strikes and adverse weather conditions disrupted mining operations in Chile, the world’s largest copper producer. Strikes affected BHP Group’s major Escondida mine and Antofagasta Plc’s Centinela mine, while unfavorable weather hampered open-pit operations at Codelco’s El Teniente mine. On the demand side, copper continued to benefit from strong growth prospects in data center infrastructure, semiconductor manufacturing, and battery energy storage systems.