Traders kept bidding up copper for a third day, with prices taking their cue from stronger Asian stocks after the U.S. tech rally. The move extends Monday's outsized climb.
Copper is riding the same AI investment wave lifting mega-cap tech. Anticipated buildouts of data centers and the electrical networks that power them are expected to support consumption in the coming years. Activity in Asia was quieter, with Chinese markets shut for Golden Week, trimming volumes in the region.
Copper is the metal that reacts first when growth expectations change. Market Briefs tracks industrial commodities free every morning.
By late morning in Singapore, copper was 0.1% higher at $14,438 a ton on the LME. Most base metals barely moved, but nickel slipped 0.6%. In steelmaking inputs, Singapore iron ore futures eased 0.5% to $91.30 a ton. Despite global bond yields hovering near multi-decade highs, risk assets have mostly taken it on the chin and kept going.
Tariff chatter and supply jitters can flip this market quickly, so a quiet tape today can turn lively in a hurry.
An AI-driven bid for copper connects chips to mines in a very direct way. Get the free Market Briefs daily newsletter and follow the trade.
