Copper futures rose to about $6.65 per pound on Monday, advancing for a fifth straight session on evidence of firmer demand and expectations of tighter global supply. The Yangshan premium, a key barometer of Chinese copper demand, climbed to $121 per ton last week, its highest level since November 2022. Sentiment was also supported by expectations of robust long-term consumption, underpinned by data center expansion and renewable energy projects.
On the supply side, major producers such as Chile, Indonesia, and the Democratic Republic of Congo continued to experience disruptions at several important mines, stemming from operational problems, fatal accidents, severe storms, and other issues. At the same time, traders are closely monitoring US copper tariff policy and its potential impact on global trade flows.
