Copper fell to around $5.77 per pound on Friday, hitting its lowest level in nearly six weeks, and on track for its worst week since late November, pressured by slowing demand from Chinese buyers and rising inventories. Reports showed that key consumer China had reduced purchases by fabricators and manufacturers as firms gradually pulled back ahead of the Chinese holidays. Stockpiles in LME warehouses across Asia are also climbing, further signaling softer demand. Analysts say the trend could accelerate as traders divert shipments from Africa to China to take advantage of temporary price gaps between Shanghai and London. Market sentiment was further weighed down after the China Nonferrous Metals Industry Association projected that refined copper output will rise about 5% in 2026, half the growth recorded in 2025.
