Copper Price Eyes $6.90 as Supply Tightness and China Demand Drive Uptrend

The copper price is expected to push towards its record high of $6.90 despite recent supply tightness and China's restocking demand.

Comex copper futures have been trading around $6.70-$6.80, but a stronger US dollar has capped the gains of this dollar-priced asset.

A break below the bullish trendline/support at ~$6.60 would flip momentum and prove that supply tightness is already priced in.

The market's short-term drivers may fuel volatility, but the long-term outlook remains steadily bullish due to concerns over US tariffs and shrinking inventories at LME and Shanghai warehouses.