Copper Prices Slide to 5-Week Low

Copper futures fell toward $6.40 per pound on Thursday, reaching their lowest level in five weeks as a global selloff in artificial intelligence stocks dampened sentiment toward the metal. Copper remains a key beneficiary of AI expansion due to its essential role in data centers and power infrastructure. Prices also faced pressure this week amid speculation that the US may abandon proposed tariffs on refined copper imports. Markets increasingly expect the Trump administration to reconsider the measures ahead of the midterm elections, as global supplies tighten and inflationary pressures persist. Copper prices hit record highs last month after traders redirected shipments to US warehouses in anticipation of potential tariffs, reducing availability in other major markets. Meanwhile, supply concerns remain elevated amid the risk of labor strikes at major mining companies due to ongoing labor disputes.