Copper futures slipped toward $5 per pound on Friday, extending losses for a second straight session as renewed demand concerns weighed on sentiment. Analysts pointed to waning interest from Chinese fabricators amid elevated prices, dampening the bullish momentum that drove copper to three-month highs earlier this week.
The recent rally had been fueled by tightening global supplies and tariff-related uncertainty, with traders to redirecting shipments to the US in anticipation of potential import duties. This shift led to notable inventory drawdowns at both the London Metal Exchange and the Shanghai Futures Exchange. However, analysts cautioned that the rally may quickly reverse if US demand softens or if upcoming tariff announcements fall short of market expectations.
