Copper futures remained stable at approximately $4.83 per pound on Monday, following a period marked by significant volatility due to supply disruptions and the looming threat of U.S. tariffs. The previous week witnessed an 8% surge in copper prices, driven by production challenges at key mining sites in South America and Africa, which heightened concerns over a constricted global supply chain. Market unease was exacerbated after President Donald Trump enacted an executive order increasing tariffs on steel and aluminum to 50%, raising speculation that copper might also face similar tariff hikes amid ongoing investigations into U.S. copper imports. Further fueling optimistic market conditions, inventories at London Metal Exchange warehouses have been on a consistent decline, indicating strong demand from major industrial regions. Nonetheless, some analysts caution that the high prices could eventually dampen consumption, potentially leading to a market adjustment in the near future.
The material has been provided by InstaForex Company – www.instaforex.com
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