Morning Copper Report: Dollar Index Volatility and Approaching Delivery Date to Impact Copper Prices

Published: May 15, 2025 08:55

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Morning Copper Report: Macro side, the US dollar index fell yesterday amid concerns about the economy. Later, market news indicated that the US was "close to reaching" trade tariff agreements with Japan, South Korea, and India, and that the US would not seek a weaker US dollar in tariff negotiations. The US dollar index rebounded after falling close to the 100 mark, forming a V-shaped trend, causing overnight copper prices to rise first and then fall. Fundamental side, as the last trading day of the 2505 contract approached, downstream procurement sentiment was low due to high copper prices and a widening price spread between futures contracts. It is expected that the premium quotes for spot prices against the SHFE copper 2506 contract will move downwards after a higher opening. Overall, with fluctuations in the US dollar index and the approaching delivery date, it is expected that there will be certain upward pressure on copper prices today.

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