<\/p>\n
Copper headed for its first weekly loss since June on concern the US is pushing back a decision on whether to impose import tariffs.<\/p>\n
Futures steadied after losing 3.6% in London on Thursday, drawing back from a record earlier in the session. A Reuters report that US officials are weighing concerns higher local prices for the metal could raise manufacturing costs triggered the reversal. For the week, prices are more than 1% lower.<\/p>\n
Copper traders have diverted hundred of thousands of tons into the US hoping to profit from a tariff-driven spike in domestic prices, should a levy on refined-metal imports be introduced by the Trump administration. Optimism over rising demand driven by data centres and renewable energy, as well as supply setbacks at key mines, have also bolstered investor buying.<\/p>\n
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\u201cThe recent rally appears to have extended beyond fundamentally justifiable levels,\u201d analysts at BMI, a Fitch Solutions company, said in a note. \u201cThe tariff uncertainty continues to run high.\u201d<\/p>\n
The metal \u2014 along with other assets \u2014 faces a test later Friday with the release of US consumer price data. Any signal inflation is picking up would lift expectations that the Federal Reserve could raise interest rates, which is typically a headwind for non-yielding assets such as copper.<\/p>\n
Benchmark copper futures rose 0.2% to $14 260 a ton on the London Metal Exchange at 12:08 p.m. in Singapore. The metal\u2019s cash-to-three-month spread flipped to $10.65 a ton in contango \u2014 a bearish pattern \u2014 on Thursday, from almost $42 a ton in backwardation \u2014 the opposite structure \u2014 the day before.<\/p>\n
Most other metals were little changed. Tin declined 1%.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Copper #heads #weekly #loss #doubts #tariffs #intensify<\/p>\n","protected":false},"excerpt":{"rendered":"
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