Copper prices are surged on the charts touching Thursday’s annual high of $9,813. The price surge comes after Trump suspends tariffs for 90 days, leading to a market boom. The Dow Jones surged nearly 3,000 points, while the Nasdaq Composite Index surged 1,857 points. Additionally, the S&P 500 index jumped 475 points, experiencing a broader market bounced at the index.
In the commodity market, gold, silver and copper have changed particularly to green. Industrial grade metals are trying to break the $10,000 mark if they hold positive momentum. Prices can start bull runs for the next three months, as prices do not play a role in determining prices.
Commodity Market: Copper could next reach $10,000:
Copper prices are aimed at exceeding the all-time high of $10,857, reaching last May. Prices for metals have gradually declined since the third quarter of 2024, and demand has been declining worldwide. However, due to the reliance on metals in EV vehicles, demand for copper has increased due to low production.
Also, when prices fell below the $8,500 mark earlier this year, Chinese buyers gave up on buying dips. For those who have started, China is the world’s largest consumer of copper, and has a history of stepping into the world when prices are low. After the crashes in 2008 and 2020, bulk purchases in China previously rose in metal prices.
China is the world’s third largest copper producer with a production capacity of 1.8 million tonnes. So we hope that copper premiums will maintain demand and snap it up when prices are low. In conclusion, profits flow from both commodity trade and global exports of industrial grade metals. If that price violates the $10,000 mark, China will become one of the biggest winners.
