Copper Defies US Tariff Uncertainty, Ends Week Higher

Copper prices are poised to end the week on a high note, defying pressure from US tariff uncertainty and higher interest rates. Despite slipping 0.2% to $14,467.50 a metric ton on the London Metal Exchange at 0331 GMT, copper was up around 1.6% for the week.

The resilience of copper can be attributed to strong physical demand in China, which has helped offset headwinds from US policies. The most-traded copper contract on the Shanghai Futures Exchange rose 1.3% to 109,500 yuan ($16,348.90) a ton and was up about 0.8% so far this week.

Signs of firmer physical buying in China have strengthened after copper retreated from record highs last week. The Yangshan copper premium, a gauge of Chinese demand for imported copper, rose to $121 a ton on Thursday, its highest since October 2022.