Copper stabilized after a volatile week with demand balancing
Istanbul, February 9 (Hibya) – Copper stabilized on Monday at $5.90 per pound (0.45359 kg) after an extremely volatile week, as investors balanced persistent supply tightness with signs of weakening demand in China, the largest consumer.
In China, industrial demand slowed as producers halted operations ahead of the extended Lunar New Year holiday. However, strong global demand driven by the energy transition and data center expansion continued to support the market.
On the supply side, major mines faced ongoing challenges due to power outages, leading to more conservative production forecasts. The China Nonferrous Metals Industry Association projected refined copper output to rise by about 5% in 2026, roughly half the growth recorded in 2025.
Meanwhile, U.S. Treasury Secretary Scott Bessent attributed last week’s sharp volatility in the metals market to Chinese investors and described the latest rally as a speculative burst.
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