Lates News

Copper prices are set for their third weekly decline in four weeks. As the tech stock selloff intensifies and overall market risk appetite takes a hit, coppera metal widely used in data centers and power infrastructurehas not been spared. In London, copper futures are trading above $14,150 per ton, down nearly 2% for the week, extending a pullback from a record high set in September. On Friday, the global tech stock rout deepened, with earnings from major technology companies failing to convince investors that the "AI boom" can be sustained. Analysts said the equity selloff is putting "enormous pressure" on metals ranging from copper to gold. "Given that demand in other sectors remains weak, equity market performance is influencing short-term sentiment in the metals market," analysts noted. Even so, copper prices are still up about 14% year to date. Earlier, the market had expected the Trump administration might impose tariffs on refined metals, which prompted a flood of metal into the United States and pushed copper prices higher. However, traders remain doubtful about whether Washington will ultimately follow through on such a move.