America News Agency

According to analysts, investors remain cautious about potential U.S. tariffs on refined metals, as such measures could redirect shipments to the United States and constrain global supply.

Leading producers in South America also continue to face disruptions due to natural disasters, strikes, and political risks. At the same time, strong industrial demand fueled by the transition to greener technologies and artificial intelligence is supporting prices.

Globally, electric vehicles—whose production is steadily increasing—require four times more copper than gasoline-powered vehicles, while artificial intelligence data centers rely heavily on copper cables.

Markets are also pricing in expectations of further policy easing in China, the world’s largest consumer, as well as additional interest rate cuts by the U.S. Federal Reserve this year.