Copper futures remain around $4.07 per pound, and a softer US dollar makes the metal more appealing to international buyers. Hopes for increased demand from China’s appliance and automotive industries also support prices.
Copper Prices Hold Steady at $4.07 Amid Dollar Decline
On Thursday, copper prices stayed at about $4.07 per pound, keeping the gains from the day before. The US dollar became weaker after an important inflation report met expectations. This weakness in the dollar helps copper prices because it makes copper cheaper for buyers who use other currencies.
Market worries about possible trade tariffs between the US and countries like China, Mexico, and Canada have eased. Traders are waiting for more details on any new trade plans. Copper is also getting a boost from expectations that China’s appliance and car industries will need more copper, even though demand from other countries is still low.
Investors hope China’s government will introduce new measures to grow the economy. This could help reduce the negative effects of global trade issues and further support copper prices.