Copper prices stabilize above $14,000 amid China demand concerns

Copper prices have stabilized above the $14,000 per ton threshold following their strongest weekly gains since May. The market is currently balancing tightening global supply scenarios against weakening demand signals from China.

Goldman Sachs stated that the export ban on copper concentrate imposed by the Democratic Republic of the Congo is not expected to have a decisive impact on global supply-demand balances, noting that the regulation largely strengthens long-standing policies affecting already constricted trade flows.

In China, the world's largest metal consumer, physical demand indicators are softening. The Yangshan copper premium dropped to $101 per ton, its lowest level since July 20, and copper imports for July fell 11.5% year-on-year. Additionally, copper stocks at the Shanghai Futures Exchange (SHFE) rose by 1.1% to 70,116 tons, marking the first increase since June 8.

Separately, iron ore prices remained flat as markets monitored an industrial strike at BHP's Port Hedland operations in Western Australia. The strike represents a significant industrial action for the region, which accounts for a large portion of iron ore exports.