Copper prices steadied after a 1.4% drop on the LME, with benchmark three-month copper holding at $14,394 per tonne. A strong dollar, elevated oil prices and weak Chinese demand data weighed on sentiment, offsetting the support from tight inventories.
What it moves
xyz:COPPER, xyz:CL, xyz:BRENTOIL, xyz:NATGAS, BTC, ETH, SOL
Bull vs bear
Bulls see tight inventories providing a floor and potential for rebound if dollar momentum fades or Chinese data improves. Bears argue persistent strong dollar, high energy costs and soft Chinese demand will keep industrial metals under pressure in the near term.