Copper falls, set for worst week since March on AI rout

Copper prices declined on Friday as heavy selling in technology shares spread across markets, Business Recorder reported. The London Metal Exchange’s three-month contract was quoted at $13,759 per tonne at 0300 GMT, down 0.61%, while the most active Shanghai contract slipped 0.93% to 107,000 yuan ($16,046.79) per tonne. The LME benchmark was heading for a 2.79% weekly loss, its steepest since March.

CRU analyst Craig Lang said investor views on data-centre expansion were increasingly shaping copper sentiment, with concerns about AI spending weighing on prices. Tight mine supply and limited metal availability beyond the United States offered a counterweight, while China’s Yangshan import premium reached $210 per tonne on Thursday, matching its highest reading since tracking began in 2012. Stock drawdowns outside the US, ahead of a possible tariff on refined copper imports, also reflected constrained physical supply.