On January 10, 2025, my Barchart article on base metals highlighted copper’s 11.56% Q4 decline and its 3.50% price appreciation in 2024. The article also cited a significant increase of over 62% in LME copper stocks to 271,400 metric tons at the end of last year. Copper began 2025 on a bullish note, with a 6.27% rally in January. March copper futures settled at the $4.2790 per pound level on January 31 and were higher in late February.
Copper is an infrastructure building block and a critical ingredient in green energy initiatives. Demand for copper is rising while supplies are struggling to keep pace.
