Copper futures were roughly flat around $6.52 per pound on Friday but remained on course for a weekly loss of nearly 3%, as mounting evidence of softer industrial activity in top consumer China continued to cloud the demand outlook. Prices were further pressured by a stronger US dollar, elevated bond yields and higher oil prices, amid rising concerns that an escalation in the US–Iran conflict could stoke additional inflationary pressures.
On the supply side, markets monitored potential disruptions in Chile, where output could be affected by a strike at an Antofagasta Plc operation, while in Panama the government has proposed restarting production at a major copper mine. Meanwhile, the Trump administration has so far delayed a decision on possible tariffs on refined copper. Earlier threats of US levies on refined metals had prompted traders to redirect shipments into American warehouses, contributing to a previous rally in copper prices.
