China Demand Lifts Copper Amid US Policy Pressure
Copper prices are set to end the week higher on Friday due to strong physical demand in China, which is helping to offset pressure from US tariff uncertainty and higher interest rates.
The London Metal Exchange's three-month copper price rose by 0.3% to $14,539 a metric ton, with a weekly gain of over 2%. The most-traded copper contract on the Shanghai Futures Exchange closed 1.4% higher at 109,620 yuan ($16,366.57) a ton.
The Yangshan copper premium, which gauges Chinese demand for imported copper, reached $121 a ton on Thursday, its highest since October 2022. This follows a rise from $85 at the end of last week.
Copper stocks in warehouses monitored by SHFE rose 2.4% to 56,073 tons, while LME tightness eased as stocks increased to 255,900 tons as of Wednesday.