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2026.04.3004:29:08UTC+00Copper Stabilizes on Strong China Data

Copper futures hovered near $5.90 per pound on Thursday after five straight sessions of declines, as industrial metals found support in stronger-than-expected growth in China’s manufacturing sector, despite persistent geopolitical pressure from the Middle East conflict. The market also remains supported by robust fundamentals: major technology companies are locking in long-term supply contracts to feed the rapid expansion of data center construction, bolstering copper demand given its critical role in electrification and power grid infrastructure. On the supply side, output from top producer Chile faces mounting uncertainty after the conflict in the Middle East disrupted sulphur shipments to China, prompting Beijing to restrict exports of sulphuric acid, a key input for roughly half of Chile’s copper refining capacity. In Indonesia, the Grasberg mine continues to operate below capacity following a deadly mudslide that triggered a force majeure declaration.

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