Copper Holds Firm on Strong Chinese Demand and Renewable Energy Boost

Copper futures have maintained their upward momentum, holding above $6.55 per pound on Friday following three consecutive days of gains.

The support for copper comes from stronger demand from China, as evidenced by the Yangshan premium reaching its highest level since November 2022 at $121 a ton on Thursday.

In addition to Chinese demand, expectations of sustained long-term consumption from data centers and renewable energy projects are also contributing to copper's price stability.

The supply disruptions at several major mines have further bolstered the metal's value.