22.01.202605:14:01UTC+00Copper Steadies as Risk Sentiment Improves

Copper futures stabilized around $5.8 per pound on Thursday, following recent downward pressure, as investor sentiment improved due to a reduction in geopolitical and trade tensions pertaining to Greenland. U.S. President Donald Trump dismissed the possibility of using military force to acquire Greenland, easing concerns by retracting tariff threats against European countries after reaching a preliminary agreement with NATO. Simultaneously, copper inventories in U.S. COMEX-approved warehouses surpassed 500,000 metric tons for the first time. This increase resulted from traders redirecting shipments to the U.S. in anticipation of possible tariffs. On the demand side, procurement by fabricators in China, the largest consumer of copper, was constrained by historically high prices. Purchasing activity remained subdued before the Lunar New Year, as buying incentives generally intensify only when prices decline below 95,000 yuan per ton, according to industry experts.