NewsFlash / Copper / Night Session Ends Higher; Eyes on Non-Farm Payrolls Amid Market Volatility
Night Session Ends Higher; Eyes on Non-Farm Payrolls Amid Market Volatility
iconJun 6, 2025 08:48
Source:SMM
[Night Session Ends Higher Amid Volatility, Focus on Non-Farm Payrolls Data Guidance]: On the macro side, US data showed that initial jobless claims surged to an 8-month high last week. Amid escalating economic headwinds from tariffs, the labour market conditions softened, putting pressure on the US dollar and providing support to copper prices. The market is now awaiting guidance from the non-farm payrolls report scheduled for Friday. On the fundamental side, there were significant differences in copper cathode brands during the day, with basis premiums experiencing large fluctuations. Demand side, both upstream shipments and downstream procurement sentiment weakened, with downstream consumption remaining sluggish and a clear counter-offering mentality observed. As of Thursday, June 5, SMM's national copper inventories in major regions decreased by 4,000 mt from Monday to 149,000 mt, increased by 10,000 mt from last Thursday, rose by 29,000 mt from the recent low, and were 302,000 mt lower than the 451,000 mt recorded in the same period last year. On the price side, it is expected that there will be limited upside potential for prices today.

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