LME copper neared $10,000/t, amid a softer US dollar, hopes of a Fed rate cut, and firm Chinese demand. Prices rose 3% in Aug’25 from end-Jul’25 levels of $9,600/t, even as concerns over China’s slowdown persisted. Supply disruptions remain modest, but strong physical demand and shifting macro conditions are expected to fuel volatility. Goldman Sachs kept its year-end forecast unchanged at $9,700/t, signalling cautiousness.
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