Copper Slides Below $10,000 Amid Concerns of Easing Demand

Copper slipped below $10,000 a ton in London amid concerns of cooling demand after prices rallied to a three-month high earlier in the week.

Prices had been on the upward trend since April after potential US tariffs on the metal sparked record shipments to the US that drained supplies on the London Metal Exchange and in China. The drawdown of LME stockpiles laid the groundwork for a major squeeze last week when a nearby spread surged to its widest since 2021.