Europe Asia News

According to analysts, the two-day rally in copper prices, which had climbed to as high as $6.15, gave way to declines as investors took profits amid a weak demand outlook in China.

Physical purchases in China remained subdued following the Lunar New Year holiday, with some importers postponing purchases due to high prices. Many domestic manufacturers are not expected to fully resume operations until early next month.

On the supply side, copper inventories in warehouses monitored by the Shanghai Futures Exchange climbed to their highest levels since 2024, while stocks in London and New York also increased, creating short-term pressure on prices.

Meanwhile, markets continued to assess optimism over easing trade barriers after the U.S. Supreme Court canceled President Donald Trump’s reciprocal tariffs, which is expected to lower average duties on China’s metal-intensive exports.