Copper prices fell 1.8% amid easing trade tensions between US and China

After briefly rising on the back of a trade deal between the US and China, copper prices fell to $9,570 per ton midweek. Despite high volatility in the market in 2025, the metal has posted a 16% growth since the beginning of the year, as reported by Mining.com.

Meanwhile, China's imports of copper concentrate hit a five-year high in April, up 24% year-on-year. The increase in shipments was driven by Freeport's Grasberg mine. Additionally, due to disruptions at Glencore's Philippine smelter, cargoes were redirected to China, as noted by the internet resource.

In April, copper stocks in Shanghai dropped sharply by 150,000 tons to 89,000 tons. According to RBC Dominion Securities, the deal between the US and China may support copper fundamentals, although the details remain uncertain. The organization's analysts favor Capstone Copper, Hudbay Minerals, Ivanhoe Mines, and First Quantum Minerals in their stock valuations.

Concurrently, operations at First Quantum's Cobre Panama mine may soon resume after more than 18 months of downtime, Mining.com reported.