Copper Prices Weaken as Congo Export Ban and US Tariffs Uncertainty Bite

Copper prices have been under pressure due to increasing uncertainty over US tariffs and export restrictions in key copper-producing countries.

The Democratic Republic of Congo has imposed an export ban on copper and cobalt concentrates, which could disrupt global copper supply. At the same time, physical copper inventories in the US are surging as importers stockpile ahead of potential tariff increases.

Technical analysis suggests that copper prices are likely to continue trading between $6.5488 and $6.7348 over the next few days, with a 77% probability of further downside. The RSI stands at 35.4, indicating bearish momentum, while MACD flashes a sell signal.