Copper futures dropped below $5.3 per pound on Tuesday, retreating from four-month highs as risk-off sentiment swept through financial markets, with commodities, equities, and cryptocurrencies all experiencing losses. Investors also cautiously awaited the delayed US jobs report, which could influence the Federal Reserve’s policy outlook for next year. Additionally, slowing economic activity and the lack of strong policy support in China, the world’s top consumer, weighed on sentiment. However, copper remained supported by ongoing supply disruptions at major global mines and expectations that the Trump administration may impose tariffs on refined metal. This prompted traders to redirect copper flows into the US, tightening conditions elsewhere.
