Key Facts
The copper-tracking fund CPER settled at US$39.56, a daily gain of 0.56%, signalling a firmer futures curve even as physical spot market conditions remained tight.
Shares of Freeport-McMoRan, the largest US-listed copper miner, fell 1.28% to US$62.63, with equity investors taking profits in the miner even as the futures-tracking fund moved higher.
Southern Copper, a major producer with mines in Peru and Mexico, retreated 1.24% to US$182.71, underperforming the wider copper-linked basket on lingering concern over Andean community agreements.
China absorbs around half of global refined copper demand, and its accelerating build-out of ultra-high-voltage transmission lines and electric-vehicle charging networks is a key structural driver of futures prices.
