Copper futures declined nearly 2% toward $6.5 per pound on Thursday, easing from record highs as traders took profits while reassessing underlying supply and demand conditions.
The metal has posted a strong rally this month, supported by a bullish long-term outlook tied to artificial intelligence-driven infrastructure buildouts, grid modernization, and the broader global energy transition.
Ongoing strength in AI-related equities has also reinforced expectations for sustained investment in data center expansion, further underpinning copper demand prospects.
On the supply side, China’s export restrictions on sulfuric acid and disruptions to sulfur production in the Middle East could tighten global supply conditions and provide a structural tailwind for prices.
Meanwhile, markets are closely watching the meeting between US President Donald Trump and Chinese President Xi Jinping, where discussions may include trade relations, rare earths, and artificial intelligence.
Source: Trading Economics
