Copper Prices Rebound Amid Global Metal Market Stabilization

Copper prices have rebounded following a significant decline from historic highs, as the global sell-off of metals like silver and gold begins to stabilize. According to Jin10, the London Metal Exchange (LME) copper contract rose by 2% to $13,145.50 per ton, recovering from a 15% drop from last Thursday's record high. Other industrial and precious metals on the LME also regained some ground. Li Xuezhi, Director of Chaos Ternary Futures Research Institute, commented on the copper market, stating that the momentum for further price increases has become uncertain, with expectations for a loose monetary environment in the United States now more unpredictable. He noted that the narrowing price gap between the New York Commodity Exchange and the LME has reduced the risk of a squeeze on the LME, weakening short-term upward momentum. However, Li added that copper prices are expected to remain high in the long term due to disruptions in global mining supply.