Copper

Copper is testing its April ascending support line for the fifth time, having previously held it in June, July, September and early October, and sits just below a horizontal resistance zone near $6.70 per pound. The metal is up more than 15% in 2026, driven by a 1.1% fall in global mine supply—primarily due to outages at Grasberg and Kamoa-Kakula that erased about 600,000 tonnes, or 2.5% of global supply. New mine output takes an average of 17 years to materialise, leaving the first annual decline in supply since 2017. Refined copper is not yet scarce, with an International Copper Study Group surplus of 131,000 tonnes in the first half of 2026; smelters lean on scrap to meet demand. Artificial‑intelligence data centres are a major buyer, with a 1‑GW campus potentially consuming up to 50,000 tonnes, which could widen a projected 10‑million‑tonne shortfall in demand versus supply by 2040. CuTT token represents each verified pound of Copper Cardano Strategic Copper Reserve would affect Copper prices BloombergNEF warned of a 44% supply deficit of copper by 2050 BloombergNEF Transition Metals Outlook identified a shortfall of 20 million tonnes of copper by 2050 BloombergNEF Transition Metals Outlook projected the copper supply deficit to reach 44% of demand by 2050 US Geological Survey quoted copper reserves near 980 million tonnes London Metal Exchange raised copper stocks to 272,950 tonnes BeInCrypto published an article about copper Anthropic raised copper price following its IPO filing. London Metal Exchange reflected the rising copper price (three‑month copper rose 1.1% to $14,487.50 per tonne). Yangshan premium, the fee buyers pay to import refined copper, reached $188 per tonne, a nearly 13‑year high. Shanghai exchange inventories fell more than 25% in a week as smelters paused for maintenance. Ewa Manthey expects that the shortage will support copper prices. Sucden Financial noted that growing U.S. stockpiles continue to cap the headline copper price.· Graphiti 生成的实体摘要