7 July | Other

Copper prices not to return to $10,000 mark in near term — Discovery Alert

Copper prices not to return to $10,000 mark in near term — Discovery Alert

According to Discovery Alert, the copper market has seen significant price fluctuations over the last few months. They have been driven by several factors, which include the approaching deadline for the delayed imposition of US tariffs on July 9.

The potential re-introduction of tariffs poses a serious threat to established supply chains, with metals traders particularly concerned about the timing of market adaptation to new cost structures, Discovery Alert experts say. The London Metal Exchange (LME) is particularly sensitive to the tariff situation.

During the rollout of Donald Trump's tariff policy, copper prices on the LME demonstrated notable volatility, repeatedly testing the psychologically important level of $10,000 per ton. However, this key resistance level proved difficult to break through.

At the same time, the current situation on the copper market is somewhat of a paradox, with a simultaneous weakness in overall demand and a constant threat of physical supply shortage.

Based on current technical patterns and fundamental factors, market analysts quoted by Discovery Alert forecast copper prices on the LME to fluctuate between $9,750 and $9,000 per ton in the short term.

Anton Volkov MarketCheese
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