HSBC: Inventories passively used, US copper demand expected to weaken.

HSBC Bank stated in a report that the large stockpile of copper in the United States may be consumed, thereby weakening the demand for copper in the US. As buyers expect the US copper tariffs to be broader than they actually are, inventory at the New York Mercantile Exchange has reached its highest level in 21 years. HSBC predicts that the average price of copper will be $4.24 per pound in 2025 and $4.15 per pound in 2026. The bank stated: "Recent developments in the copper market clearly show how the uncertainty of trade policy affects the economy, markets, and prices." "The significant price difference between copper in the US and overseas has also created numerous trading opportunities and significantly increased trading profits in the commodity market." The London Metal Exchange's three-month copper price rose 0.3% to $9663 per ton.