Copper futures fell nearly 2% toward $6.5 per pound on Thursday, retreating from recent record highs as investors moved to lock in profits and reassess the market’s supply and demand outlook.
Despite the pullback, copper has maintained a strong upward trend this month, supported by growing optimism surrounding artificial intelligence infrastructure expansion, power grid modernization, and the accelerating global shift toward clean energy.
The continued rally in AI-related stocks has also strengthened expectations for long-term investment in data centers and digital infrastructure, reinforcing positive demand prospects for copper.
On the supply side, concerns remain elevated after China imposed export restrictions on sulfuric acid, while disruptions to sulfur production in the Middle East could further tighten global supply conditions and provide additional structural support for prices.
Meanwhile, investors are closely monitoring the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping, with discussions expected to focus on trade relations, rare earth materials, and artificial intelligence cooperation.
