Copper prices surge on stimulus hopes and EV demand

Copper futures surged above $4.26 per pound on Thursday, reaching their highest level in four weeks and extending this week’s rally to over 5%, marking the best weekly performance since late September.

Copper prices surge on stimulus hopes and EV demand

Investors closely monitor China, the world’s largest copper consumer, following the latest inflation data, indicating rising deflationary pressures. Despite these concerns, there is optimism that Beijing will deliver on its recent promises to increase monetary and fiscal stimulus to support economic growth. Copper prices also gained support from expectations of higher demand driven by the electric vehicle and renewable energy sectors, which are expected to boost metal consumption this year.

Trump's tariff threats pose risks to commodity prices

However, lingering uncertainties surrounding US President-elect Donald Trump’s tariff threats continue to pose risks to commodity prices.