Macro headwinds lifted risk-averse sentiment, copper prices fell overnight

Published: Aug 28, 2025 08:22

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On the macro front, Beisent called for an internal review of the US Fed and stated that Trump's choice for Fed Chairman would definitely be known in the fall, intensifying the crisis over the Fed's independence. The US dollar index showed an inverted V pattern, with copper prices first falling then rising. Meanwhile, Trump warned Putin that if the conflict did not end, an economic war would ensue, sparking market risk aversion and weighing on copper prices. On the supply side, imported supplies were limited, and high-quality copper was in short supply, leading to a generally tight supply. Demand side, as month-end approached, some customers refrained from making just-in-time procurement for next month, and downstream demand mainly maintained just-in-time procurement, with moderate market transactions. In terms of pricing, influenced by macro headwinds and weak supply and demand fundamentals, it is expected that copper prices will encounter resistance today.

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