Copper Prices Hit Two-Week High on Supply Constraints

Copper futures have been on an upward trend, reaching their highest level in two weeks at $6.5 per pound on Monday.

This increase is attributed to ongoing supply constraints, particularly shortages of copper concentrate and scrap copper in top consumer China.

Analysts point out that these shortages are driving up treatment charges and market spreads, which are further supporting the price rise.

Traders remain cautious due to the prospect of new US tariffs on the metal, leading to a diversion of copper shipments into the US.

The long-term demand outlook for copper remains favorable, driven by the global shift towards clean energy and the rapid expansion of artificial intelligence data centers.