US-China Tariff Cut Revives Copper Demand as Prices Consolidate

Copper prices have stabilized as the US and China agreed to reduce tariffs on $30 billion of each other's imports, potentially lowering copper trade costs.

This development could boost cross-border copper demand, given the metal's industrial significance. Copper trades below its short- and medium-term moving averages but remains above its long-term trend line.

The price is expected to range from $6.4905 to $6.7371, with a 76% probability of further decline.