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IPC Index — Mexico MarketCopper futures stabilized near $5.8 per ounce on Friday following a sharp two-day selloff, as investors reassessed expectations around tightening supply and robust global demand. Earlier in the week, prices surged to record highs amid concerns that the Trump administration could impose new tariffs on refined metals, potentially diverting shipments into the US and constraining supply elsewhere. Supply-side risks were further highlighted by comments from an executive at Australia’s BHP Group, who warned that the copper market could face a structural deficit between 2030 and 2035 and urged increased production. On the demand side, sentiment remains supported by expectations of strong consumption tied to power grid upgrades, renewable energy investment, and the expansion of data center infrastructure. However, ongoing weakness in China’s construction sector, a key source of demand, continues to pose a potential headwind for copper prices.
