Copper declines amid broader market caution but weak supply growth from China and key mining regions cushions the fall.
Copper prices have retreated roughly 5% from mid-May peaks, driven by heightened risk aversion linked to rising oil prices. The downturn reflects broader market unease but lacks momentum due to persistent supply challenges.
China’s April copper output fell 4.5% month-on-month, while mining disruptions in Chile and Indonesia signal further supply tightness. Analysts note these constraints may prevent steeper declines despite weaker demand sentiment.
No immediate market reaction was specified, though the balance between risk sentiment and supply dynamics remains a key focus for traders.