Copper futures in the US were near $4.65 per pound on Wednesday, holding the rebound so far this week as stimulus from China and a weaker dollar momentarily offset risks to manufacturing demand and ample supply of copper in North America. The PBoC cut key lending and liquidity rates shortly after credit data indicated that the issuance of government bonds increased in April, extending signals that Beijing would continue to support factory activity. Still, increasing supply of copper to the US tamed the rebound. Strong ore output from South America increased risks of a wider surplus this year and drove traders to close long positions on US copper futures, which were mostly open after Trump announced a probe to tariff copper imports. This coincided with the rise in domestic copper inventories and the pullback in LME inventories as metal flowed back into the United States for factories to avoid shield themselves from levy risks, narrowing the spread between US and London copper futures.
Copper increased 0.67 USd/LB or 16.76% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Copper reached an all time high of 168.72 in March of 2025. Copper - data, forecasts, historical chart - was last updated on May 21 of 2025.
Copper increased 0.67 USd/LB or 16.76% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper is expected to trade at 4.44 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4.13 in 12 months time.