MNI BRIEF: China Copper Prices Up On Trump Inauguration
MNI (BEIJING) - Copper prices have found support after President Donald Trump decided not to implement China tariffs immediately following his inauguration and alongside his signalled intention to visit Beijing during the first 100 days, easing analyst concerns over US-China trade tensions, Shanghai Metals Market (SMM) said in a note on Tuesday.
The Shanghai Futures Market three-month copper contract stood at CNY75,670 per tonne on Tuesday lunchtime, up from CNY75,400 yesterday, according to SMM data.
China’s downstream copper end-users have reduced demand as Spring Festival begins after largely completing their stockpiling cycle, the analysts noted.
China’s domestic coal prices are likely to fall further from 2024 levels as supply outpaces demand, and government policies aim to stabilise, rather than stimulate, housing and infrastructure, local analysts told MNI. (See MNI: China Coal Prices To Fall Further In 2025 - Analysts)