Copper Prices Rise but Outlook Clouded

Dow Jones11-09

0223 GMT - Copper prices are higher in early Asian trading, though mounting macro headwinds cloud the outlook, Dongwu Futures analysts write. Investors are reassessing the U.S. tariff outlook following a Democratic sweep of Congress in the midterm elections, while concerns about tighter regulation potentially weighing on AI-related demand premiums have added to pressure, they say. Tightness in copper concentrate markets persists, with spot treatment charges holding at low levels amid annual term contract negotiations, they add. China's refined copper output is expected to decline further in November. Demand remains subdued, they add. Near term, copper prices will likely remain volatile and trade with a weaker bias despite a constructive longer-term supply outlook, they say. The three-month LME copper contract rises 0.7% to $13,859.50 a ton.

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