20.10.202512:20:44UTC+00Copper Holds Pullback

Copper futures were priced at $4.95 per pound on Monday, maintaining a significant retreat after approaching a two-month high of $5.12 the prior week. This adjustment comes as markets evaluate short-term demand risks. In China, the world's leading copper consumer and the hub of the largest manufacturing sector, annual GDP growth decelerated in the third quarter. This occurred despite recent optimistic data showing industrial production outperformed expectations, growing by 6.5% in September instead of the anticipated 5%. Nevertheless, this data was insufficient to trigger a revival in industrial demand, as ongoing trade tensions between the United States and China cast a shadow over global demand for base metals. As a result, the Yunnan Copper Premium, an indicator of demand for physical copper in China, fell to $36 per tonne, down from nearly $100 in April. Despite this, supply constraints have hindered a further decrease in prices. Disruptions in mining activity, notably the stoppage at Indonesia's Grasberg mine, have intensified concerns about potential supply deficits for major consumers.