Minmetals Futures: Copper prices are expected to rebound in the short term, supported by supply tightness and inventory depletion

2026-04-13 05:18:38

The Middle East situation is marginally easing, and sentiment may improve. Industry-wise, the tight supply pattern of copper mines remains, with domestic inventories being relatively well liquidated. At the same time, as the price difference between refined and scrap copper drops to a low level, both scrap copper raw material supply and scrap copper substitution decrease. Copper inventories are expected to continue to decline and support copper prices. In the short term, copper prices are expected to rebound, but caution is still needed regarding the uncertainty of the Middle East situation. (Wukuang Futures)

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