17.04.202604:21:45UTC+00Copper Heads for Fourth Weekly Advance

Copper futures held above $6 per pound on Friday and were poised for a fourth straight weekly advance, supported by renewed buying from Chinese consumers as fabricators capitalized on recent price softness. Expectations surrounding an imminent US tariff decision also underpinned prices, with some shipments reportedly being redirected to the US market.

Beyond short-term trade flows, copper continues to draw support from structural demand linked to global electrification, the expansion of artificial intelligence infrastructure, and consistent usage in power grids and construction. On the supply side, output remains constrained by mining disruptions, years of underinvestment, and the inherently long lead times for new project development.

Market sentiment was further lifted by rising optimism over a potential resolution of the US-Iran conflict, which has eased inflation concerns and reduced expectations for more restrictive central bank policy—factors that have recently pressured the broader metals complex.