Base Metals Preview: Copper falls after around 4% spike in last session
31-Dec-2025
10:37
Copper futures slipped today as last session of the year triggered some profit selling after a sharp surge in last session. The commodity soared around 4% in last session as metals rallied amid weak US dollar index. Overall mood is positive for the red metal after the recent drawdown in LME Copper inventories pulled the storage levels in the exchange to lowest in around two months. Chinese economic cues are mildly supportive as headline seasonally adjusted Purchasing Managers' Index (PMI) rose above the 50.0 no-change mark in December. At 50.1, up from 49.9 in November, the latest reading indicated a fractional expansion of the Chinese manufacturing sector. This also marked the fourth improvement in the health of the sector over the past five months. However, tepid equities and thin trading volumes weighed on the sentiments today and COMEX Copper futures are currently trading at $5.68 per pound, down 1.70% on the day. The red metal ' a key commodity that underpins the fast-growing renewable energy industry, is on course for its biggest annual price rise in more than 15 years.
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