NewsSignals AI analysis·Reuters·Oct 29, 2026

Copper eases but holds near two-week highs as tight China supply offers support

Grade Bbullish AI signal$HG

Copper prices eased on Thursday but remained near two-week highs as tight physical supplies in China supported the market despite concerns over further US interest rate hikes. China's Yangshan copper import premium surged to $205 per ton, its highest in more than a decade, while SHFE-monitored copper inventories plunged more than 26% last week. Persistent supply tightness could support further copper price gains, but expectations of another Federal Reserve rate hike in December may limit upside.

Bullish strength: 70/100

Tight physical copper supplies in China are supporting prices.
The Yangshan copper premium reached $205 per ton, its highest level in more than a decade.
SHFE-monitored copper inventories fell more than 26% last week.
Copper remained near a two-week high despite Thursday's modest decline.

Bearish strength: 30/100

Three-month LME copper fell 0.36% to $14,425 per metric ton.
The most-traded Shanghai copper contract declined 0.42% to 109,380 yuan per ton.
Expectations of a potential December Federal Reserve rate hike could limit copper's gains.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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