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This is your Daily Copper Price Tracker with Vanessa Clark podcast.
Hey friends, welcome back to Daily Copper Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the latest on copper prices, trading action, and what it all means for you.
Right now, copper is trading around 5.55 dollars per pound on Comex, settling down about 3 percent today after a rough drop of 17 cents per pound. That's according to the latest Data Talk report. Over on the London Metal Exchange, futures dipped to about 12,775 dollars per metric ton, or roughly 5.79 dollars per pound, as stockpiles hit their highest in over six years at 330,375 tons. Mining.com notes this buildup is pressuring prices amid weaker demand, especially from China where buyers are holding back.
Economies.com says copper's stuck in a sideways fluctuation near 5.65 dollars per pound, holding above key support at 5.51 dollars, with a bullish tilt if it rallies toward 5.85 dollars. But watch out, Crux Investor points to elevated prices near 5.81 dollars per pound clashing with record inventories over one million tons, hinting at a possible correction. Times-Online adds it's below 12,500 dollars per tonne, about 5.69 dollars per pound, after peaking way higher earlier this year, thanks to cooling in China's manufacturing and tariff talks.
Scrap prices are softening too, with North American copper wire and tubing down a bit, per ScrapMonster.
The big picture? Supply headaches from long mine timelines, social pushback stalling projects, and Strait of Hormuz issues hitting processing. Long-term demand from EVs and data centers looks solid, but short-term volatility rules.
Actionable tip: If you're trading or investing, track LME stockpiles and China's PMI closely, and consider dollar-cost averaging into copper ETFs to ride out dips. Stay nimble, friends.
Thanks for tuning in to Daily Copper Price Tracker. Subscribe, share with a buddy, and catch you next time for more copper updates. Take care!
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