Copper inches down as traders assess Chinese demand data

Copper Prices Fluctuate Amid Chinese Demand Concerns

Copper prices on the London Metal Exchange (LME) rose initially on Friday but later flattened and turned slightly negative during US trading hours. This movement followed investor reactions to data showing a drop in China's copper imports.

Market Performance

The most active copper contract on the LME increased by 0.3% to $10,712 per ton at 3:01 p.m.
Despite this gain, prices are still about 4% lower than the peak surpassing $11,200 per ton reached on October 29.

China's Copper Import Data

Government data released Friday revealed a 9.7% month-over-month decline in China's copper imports, totaling 438,000 tons in October.

Buyers scaled back amid the rapid rise in copper prices, affecting demand.

Supply Side Update

US-based Freeport-McMoRan announced that its Indonesian subsidiary has resumed operations at two Grasberg complex mines after a temporary halt, according to a regulatory filing.

Currency and Futures Market

The US Dollar Index edged down 0.2% to 99.5 by 14:33 GMT, after fluctuating between 99.8 and 99.5 during the session.
In US trading, December copper futures slipped less than 0.1% to $4.96 per pound as of 14:20 GMT.

Bitcoin Faces Weekly Loss Amid Tech Selloff

Bitcoin dropped on Friday, on course for another weekly decline. The global technology selloff reduced risk appetite, pushing investors away from cryptocurrencies.

The largest digital currency has now fallen in four of the last five weeks, struggling to bounce back after a weak October.

Bitcoin slipped 0.

Summary: Copper prices showed slight gains but remain down amid lowered Chinese demand, while Bitcoin continues its downward trend reflecting broader market risk aversion.

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Economies.com — 2025-11-07