Copper futures slipped toward $5.9 per pound on Wednesday, retreating from record highs and tracking a broader pullback across the metals complex as investors took profits. Commodities also faced pressure from a firmer dollar as markets braced for a heavy slate of US economic data that could shape the Federal Reserve’s policy outlook. Meanwhile, China’s central bank said it plans to lower the reserve requirement ratio and cut key policy rates this year to ensure ample liquidity and maintain an accommodative monetary stance, supporting the overall demand outlook. Earlier this week, copper surged to all-time highs amid growing concerns that the Trump administration could impose new tariffs on refined metals, diverting shipments into the US and tightening supply in major trading hubs such as London and Shanghai. Prices were also underpinned by a strong global demand outlook, particularly from power grid upgrades, renewable energy investment, and expanding data center infrastructure.
