15.05.202506:54:06UTC+00Copper Prices Decline Amid Trade Uncertainty

Copper futures experienced a decline, reaching approximately $4.57 per pound on Thursday, marking a continuation of losses for the second consecutive session. This downward trend is attributed to ongoing uncertainties in global trade, which continue to weigh on market sentiment. Although a temporary 90-day tariff reduction agreement between the United States and China signified progress towards easing tensions, experts warn that the lack of a comprehensive, long-term deal casts a shadow over the broader economic landscape. Additionally, US policymakers continue to emphasize reducing dependence on Chinese imports, which raises concerns about persistent disruptions in global supply chains. The situation was further dampened by the International Copper Study Group, which has doubled its forecast for a global copper surplus in 2025 to nearly 300,000 tonnes. This revision considers both increased production levels and downward adjustments in demand expectations. The group stated: "Given the uncertainty surrounding international trade policies, which are likely to weaken the global economic outlook and adversely affect copper demand, usage growth rates have been revised downward compared to our September 2024 projections."