Metals Market Selloff: Copper, Uranium, and Lithium Prices in Focus

Copper prices have dropped on Thursday due to uncertainty over US tariffs, adding to selling pressure. The metal's price could potentially fall towards $6 if key support at $6.50 fails. Meanwhile, uranium and lithium also weakened ahead of the US inflation report.

The demand for these metals is driven by nuclear power agreements supporting uranium's long-term outlook and the Sprott Lithium Miners ETF having key long-term support at $9. However, if a strong inflation reading increases expectations for a Fed rate hike, higher borrowing costs could slow construction and manufacturing, weighing on copper and lithium demand.