Copper Transforms from Weak to Top-Performing Metal, Driven by Supply Concerns and Economic Outlook

Published: Apr 10, 2026 21:55

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Nguyen Thu Lan at Commerzbank noted that copper, once among the weakest-performing metals under pressure from rising London Metal Exchange (LME) inventories and mixed supply side news, has now transformed into one of the best-performing metals.Potential inventory sell-offs and the restart of the Panama mine could suppress price gains in the short term, but the sharp decline in Chilean production suggests that once concerns about economic growth ease, supply worries could dominate, supporting copper prices higher over the longer term.Nguyen said: "Copper is one of the best-performing metals. On the one hand, this can be attributed to copper being viewed as a highly cyclical metal.

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