Copper Prices Rebound as Raw Material Constraints Intensify

Copper prices have rebounded from their short-lived pullback despite expectations of potential U.S. tariffs on refined copper cooling down.

The decline in copper prices was initially attributed to the White House's decision not to implement tariffs on refined copper, which had been a major concern for the market.

However, Mysteel's survey reveals that Chinese smelters' refined copper output has been declining year-on-year since the third quarter began due to tightening copper concentrate supplies and a widening supply gap for compliant copper scrap carrying valid input invoices.

The impact of raw material constraints on output is likely to intensify in the short term, with copper concentrate supply unlikely to see significant improvement and sulfuric acid prices continuing to decline amid weak demand.