Copper stays range bound as US tariff uncertainty, oil inflation risks weigh

Copper prices have been stuck in a narrow trading range due to concerns over US tariffs and rising oil prices, which could lead to higher inflation. This uncertainty has made traders cautious, limiting any significant gains in copper prices. The copper market is also being supported by a shortage of copper scrap in China, which is boosting demand for refined copper. However, record high US inventories and cautious buying have kept copper prices from rising further, suggesting that the market remains volatile.

Why it matters

Uncertainty over US tariffs and oil inflation risks are keeping traders cautious, affecting copper prices. This uncertainty is causing traders to be risk-averse, leading to range-bound copper prices.

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