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Copper futures reversed early losses to hit multi-week high
July Copper futures staged a significant intraday turnaround, reversing an early 1.55% drop to a session low of 6.2420 to close at their highest level since May 14, finishing the session up 1.32%. This price reversal comes amid tightening global supply dynamics. State-owned Codelco, the world's largest copper producer, revealed that an internal audit showed its 2025 output figures were overstated by 26,875 metric tons, leading to executive departures and a 2% downward revision to reported output. Additionally, global refining and smelting operations face compounding headwinds from geopolitical friction. The ongoing ...
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- May 28, 2026 4:49pm Posted byFundamental Analysis70
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