FX.co ★ Copper Set for Strong Weekly Gain

Copper futures remained above $4.90 per pound on Friday, poised for a weekly gain exceeding 5%, primarily due to continuous supply disruptions and growing concerns about potential US tariffs. Persistent production challenges at Teck Resources' Chilean operations are anticipated to last several months, compounded by disturbances at the Kamoa-Kakula project in the Democratic Republic of Congo, which have further constricted global supply. Bolstering the positive sentiment, copper inventories in London Metal Exchange warehouses have been on a steady decline, indicating robust demand from major manufacturing centers. Meanwhile, investor concerns escalated after President Donald Trump issued an executive order increasing tariffs on steel and aluminum to 50%, sparking speculation that copper might become the next focus. The current US investigation into copper imports has introduced additional uncertainty to the market's outlook.