Copper Prices Soar Amid Fed Decision, Strong Demand Outlook
Copper futures have risen above $6.45 per pound on Friday and are poised to end the week and month about 2% and 4% higher, respectively.
The price increase followed the US Federal Reserve's decision not to change interest rates this week, alleviating concerns over demand for industrial metals in top consumer China.
The country's Politburo signaled it would stick with current policy measures rather than introducing broad-based stimulus, emphasizing the need to 'fully use' existing tools while directing fiscal spending and bond issuance toward boosting demand and improving supply.
Copper continues to find support from its strong long-term demand outlook, underpinned by the global transition to clean energy and the rapid expansion of artificial intelligence data centers.