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Copper up, investors confused

Copper prices drifted higher on Wednesday as investors waited for details of U.S. reciprocal tariffs, but tin extended a rally to its highest in nearly three years on supply fears.

Benchmark three-month copper on the London Metal Exchange (LME) was up 0.2% at $9,711 a metric ton by 0953 GMT after slipping to its weakest in three weeks at $9,668.50.

“Investors are confused, they’re uncertain about the outlook. It’s mostly tariff-related, although there’s also global conflict, currency debasement and confusion around central bank policy,” said Tom Price, head of commodities strategy at Panmure Liberum.

“Aluminium gives you an insight into what copper might do. It has gone through the first phase of factoring in the cost of tariffs and now it’s going into the second phase, where demand is deteriorating,” Price said.

Source – Business Recorder

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    “These projections are supported by a rise in copper demand from the energy transition, electricity grids and a limited supply,” Claudia Rodriguez, Cochilco’s interim VP, said in a statement, adding that geopolitical tensions also played a role.

    “Uncertainty about China’s economic recovery, tariffs implemented by the United States and the hardening of monetary policy could limit the demand for copper, affecting its price,” Rodriguez said.

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