{"id":36000,"date":"2025-12-04T18:43:26","date_gmt":"2025-12-04T10:43:26","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=36000"},"modified":"2025-12-04T18:43:26","modified_gmt":"2025-12-04T10:43:26","slug":"copper-retreats-as-supply-risks-stir-volatility","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/sv-eu\/analysis\/copper-retreats-as-supply-risks-stir-volatility\/","title":{"rendered":"Copper Retreats as Supply Risks Stir Volatility"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.vtmarkets.com\/sv\/wp-content\/uploads\/sites\/10\/2025\/11\/Image_fx-25-1024x576.jpg\" alt=\"\" class=\"wp-image-35377\" srcset=\"https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/11\/Image_fx-25-1024x576.jpg 1024w, https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/11\/Image_fx-25-300x169.jpg 300w, https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/11\/Image_fx-25-768x432.jpg 768w, https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/11\/Image_fx-25.jpg 1365w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Copper futures dipped 0.5% to $11,395.50\/ton<\/strong>, pulling back from a new intraday peak of <strong>$11,529.00<\/strong>.<\/li>\n\n\n\n<li>Withdrawal orders from LME warehouses in Asia signal tightening supply amid <strong>tariff speculation and mine cuts<\/strong>.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Copper prices took a step back in Thursday\u2019s session after hitting a new record, with futures on the London Metal Exchange easing <strong>0.5% to $11,395.50 a metric ton<\/strong>. Earlier in the day, prices surged to an all-time intraday high of <strong>$11,529.00<\/strong>, underscoring the market\u2019s unease over tightening global supply and geopolitical trade risks heading into 2026.<\/p>\n\n\n\n<p>Fresh data from the <strong>London Metal Exchange<\/strong> pointed to a sudden spike in withdrawal orders from copper warehouses in Asia, a move analysts say reflects mounting fear over short-term availability.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Chinese copper smelters, faced with the prospect of negative fees for turning ore into metal, are in a stalemate with a major Chilean miner <a href=\"https:\/\/t.co\/pgVWF8gKqr\">https:\/\/t.co\/pgVWF8gKqr<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1996122852626407530?ref_src=twsrc%5Etfw\">December 3, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The decline comes amid concerns around U.S. levy announcements set to take place in 2026.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Mixed Signals from Majors: Cuts vs Expansions<\/h2>\n\n\n\n<p>The production landscape remains choppy. Earlier this week, <strong>Ivanhoe Mines<\/strong> slashed its 2026 outlook for the <strong>Kamoa-Kakula copper project<\/strong> in the <strong>Democratic Republic of Congo<\/strong>, citing operational challenges. Meanwhile, <strong>Glencore<\/strong> also trimmed its 2026 copper production target, compounding investor concerns that tight supply may persist well into next year.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Glencore said it plans to boost copper production to about 1.6 million tons a year in the next decade as the miner seeks to reverse a slump in its output of the metal <a href=\"https:\/\/t.co\/kywdv37AuD\">https:\/\/t.co\/kywdv37AuD<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1996193285820260602?ref_src=twsrc%5Etfw\">December 3, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>However, <strong>Rio Tinto<\/strong> offered some balance, raising its 2025 production guidance for the <strong>Oyu Tolgoi mine<\/strong> in Mongolia. The firm attributed the adjustment to faster-than-expected infrastructure upgrades and improved extraction capabilities.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Rio Tinto has announced a string of cost cuts and improvements as it streamlines the group <a href=\"https:\/\/t.co\/PDG8yqRgoM\">https:\/\/t.co\/PDG8yqRgoM<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1996469045940326726?ref_src=twsrc%5Etfw\">December 4, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Even so, the broader supply narrative leans fragile, and any positive uptick in output could easily be overshadowed by regulatory headwinds or climate-linked disruptions in key copper-producing regions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>Copper has extended its recovery, trading at <strong>5.2602<\/strong>, now testing the upper boundary of a consolidation range that has persisted since September.<\/p>\n\n\n\n<p>Price action has been gradually coiling above the key 5.10 support area, and the recent breakout attempt above the 5.25\u20135.27 resistance band is encouraging, even though today\u2019s candle shows slight hesitation with a -0.66% decline.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"458\" src=\"https:\/\/www.vtmarkets.com\/sv\/wp-content\/uploads\/sites\/10\/2025\/12\/WhatsApp-Image-2025-12-04-at-181105-1024x458.jpeg\" alt=\"\" class=\"wp-image-36001\" srcset=\"https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/12\/WhatsApp-Image-2025-12-04-at-181105-1024x458.jpeg 1024w, https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/12\/WhatsApp-Image-2025-12-04-at-181105-300x134.jpeg 300w, https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/12\/WhatsApp-Image-2025-12-04-at-181105-768x343.jpeg 768w, https:\/\/www.vtmarkets.com\/sv-eu\/wp-content\/uploads\/sites\/10\/2025\/12\/WhatsApp-Image-2025-12-04-at-181105.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The 5, 10, and 30-day moving averages remain in bullish alignment and continue to slope upward, indicating that the short- to medium-term trend is supportive of further gains.<\/p>\n\n\n\n<p>MACD momentum also supports this view \u2014 the MACD line has crossed above the signal line and the histogram is expanding in green territory, pointing to improving bullish momentum.<\/p>\n\n\n\n<p>For bulls, a confirmed daily close above <strong>5.30<\/strong> would likely trigger a rally toward the <strong>5.50\u20135.60<\/strong> zone, with the <strong>5.89 high<\/strong> from July back in play as a longer-term target.<\/p>\n\n\n\n<p>However, if price fails to hold above <strong>5.20<\/strong>, we may see another pullback toward <strong>5.05\u20135.00<\/strong>, where the 30-day MA should act as dynamic support. Overall, momentum is building, but confirmation above resistance remains key.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Cautious Forecast<\/h2>\n\n\n\n<p>If global production cuts persist without further offset from majors, and if the U.S. formalises tariffs in early 2026, copper could attempt another test of the <strong>$11,500\u2013$11,600 range<\/strong> in the next few sessions. But failure to break convincingly above that level may result in a retracement toward <strong>$10,980<\/strong>.<\/p>\n\n\n\n<p>Watch for further LME warehouse data and tariff headlines to shape short-term volatility.<\/p>\n\n\n\n<p><strong>Learn more about trading <a href=\"https:\/\/www.vtmarkets.com\/precious-metals\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Precious Metals<\/a> on <a href=\"http:\/\/www.vtmarkets.com\/trade-now\" target=\"_blank\" rel=\"noopener\" title=\"\">VT Markets<\/a>.<\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Copper futures fell as supply concerns jostled with shifting production forecasts and looming tariff risks. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":5,"featured_media":35377,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[35,34],"class_list":["post-36000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-base-metals","tag-copper"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts\/36000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/comments?post=36000"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts\/36000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/media\/35377"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/media?parent=36000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/categories?post=36000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/tags?post=36000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}