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Copper Prices Stabilize Amid Global Supply Strains And Trade Optimism
(MENAFN- The Rio Times) As of the morning of November 3, 2025, copper prices have steadied near multi-year highs, reflecting a delicate balance between persistent supply disruptions and evolving demand dynamics in key global markets.
On the COMEX exchange, December 2025 futures contracts are quoted at 5.1140 USD per pound, a modest 0.20% rise from the previous session.
The London Metal Exchange's three-month contract stands at 10,887.50 USD per metric ton, down 0.27%, while Shanghai Futures Exchange prices hover at 87,130 CNY per metric ton, reflecting a slight 0.09% decline.
Over the past seven days, prices surged initially, peaking at record levels on the LME around 11,173.50 USD per metric ton by October 29, driven by hopes of easing U.S.-China trade tensions-particularly a potential deal on soybeans that could bolster economic stability.
This optimism, rooted in pragmatic market negotiations, helped counterbalance weaker signals from China's manufacturing sector, where subdued factory activity and disappointing PMI data underscore challenges in state-directed economic planning.
Overnight into November 3, Asian markets showed minor downward pressure, but Western exchanges held firm, signaling resilient investor confidence.
Globally, supply constraints remain acute, with operational issues at mines like Freeport-McMoRan's Grasberg in Indonesia and production cuts by Glencore and Anglo American projecting a 150,000-metric-ton deficit in 2026.
Demand from electrification, AI data centers, and renewables in the U.S. and India offers a counterweight, potentially offsetting China's slowdown. A weaker U.S. dollar, down 7% this year, further supports commodity strength.
Market analysts praise the bullish outlook: "The world economy is now in the strongest copper bull market in 50 years," said Colin Fenton of 22V Research, highlighting free-market forces at play.
Technical charts indicate short-term consolidation but affirm an upward trend, with daily views favoring gains toward 5.50-6.00 USD per pound.
While uncertainties linger, the market's response to supply realities and trade pragmatism suggests sustained momentum ahead.
On the COMEX exchange, December 2025 futures contracts are quoted at 5.1140 USD per pound, a modest 0.20% rise from the previous session.
The London Metal Exchange's three-month contract stands at 10,887.50 USD per metric ton, down 0.27%, while Shanghai Futures Exchange prices hover at 87,130 CNY per metric ton, reflecting a slight 0.09% decline.
Over the past seven days, prices surged initially, peaking at record levels on the LME around 11,173.50 USD per metric ton by October 29, driven by hopes of easing U.S.-China trade tensions-particularly a potential deal on soybeans that could bolster economic stability.
This optimism, rooted in pragmatic market negotiations, helped counterbalance weaker signals from China's manufacturing sector, where subdued factory activity and disappointing PMI data underscore challenges in state-directed economic planning.
Overnight into November 3, Asian markets showed minor downward pressure, but Western exchanges held firm, signaling resilient investor confidence.
Globally, supply constraints remain acute, with operational issues at mines like Freeport-McMoRan's Grasberg in Indonesia and production cuts by Glencore and Anglo American projecting a 150,000-metric-ton deficit in 2026.
Demand from electrification, AI data centers, and renewables in the U.S. and India offers a counterweight, potentially offsetting China's slowdown. A weaker U.S. dollar, down 7% this year, further supports commodity strength.
Market analysts praise the bullish outlook: "The world economy is now in the strongest copper bull market in 50 years," said Colin Fenton of 22V Research, highlighting free-market forces at play.
Technical charts indicate short-term consolidation but affirm an upward trend, with daily views favoring gains toward 5.50-6.00 USD per pound.
While uncertainties linger, the market's response to supply realities and trade pragmatism suggests sustained momentum ahead.
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