INSUBCONTINENT EXCLUSIVE:
The metal stabilized Thursday around $4.57 per pound as traders responded to positive signals about potential trade agreements.This
Chinese manufacturing activity simultaneously fell to a 16-month low, with export orders dropping at their fastest rate since 2022.Market
sentiment improved after President Trump suggested possible trade agreements with India, Japan, and South Korea
policies imposed in April
The United States implemented a 10% baseline tariff on all imports and a 125% tariff on Chinese goods.Copper Market Rebounds Amid Trade
Optimism Despite Global Economic Concerns
Recent diplomatic developments suggest potential easing of these tensions.Copper Market OutlookSupply factors continue shaping copper
markets alongside macroeconomic concerns
Global mine production should increase by 2.3% to 23.5 million tonnes this year
Production growth varies significantly by region.The Democratic Republic of Congo leads with projected 9.6% growth thanks to power
infrastructure improvements
Indonesia follows with 6.9% growth from strategic mine developments.Chile expects modest 2% production increases despite ongoing civil
Individual producers report mixed results
Glencore announced a 30% drop in first-quarter copper output.Meanwhile, Capstone Copper reported Q1 production 9% higher than the same
London Metal Exchange inventories reached concerning lows.Current stocks sit at just 45,000 metric tons, representing a 12-year low and 78%
This inventory depletion removes crucial buffers against supply disruptions.Looking forward, copper prices should reach $4.95 per pound by
Trading Economics projects prices at $5.31 in twelve months
Investment banks remain bullish long-term, forecasting average prices between $10,000-11,000 per tonne by 2027.The Sprott Copper Miners ETF
reflects cautious market optimism
Its net asset value rose 0.98% Thursday to $19.59, bringing total assets to $23.1 million.
