en.Wedoany.com Reported - Copper prices on the New York futures market rose 8% in the first half of the year, stabilizing above the psychological threshold of $6.0 per pound.

The red metal, seen as a key indicator of the global economy, has gained momentum in recent weeks due to supply and demand fundamentals. Since early May, copper prices have been supported by rising demand from China and global supply concerns.

Improved demand expectations from the manufacturing sector in China, the world's largest consumer, provided the main impetus. Artificial intelligence data centers' substantial demand for copper added another attraction. Additionally, ongoing conflicts in the Gulf region have heightened supply risks, with sulfur shortages in the Middle East expected to impact global production.

Persistent issues at major global mines provided support for prices. Chile's mining output fell 9% year-on-year in March, despite a month-on-month recovery. Indonesia's Grasberg mine is operating at only 40-50% capacity.

Against this backdrop, the most active copper contract on the Commodity Exchange (Comex) closed the first half at $6.25 per pound, posting an 8.0% gain for the period. On May 13, copper prices hit an all-time high of $6.65 per pound, setting records for three consecutive trading days. In the second quarter, copper prices rebounded 12%, accumulating a 22% gain over the past 12 months. In 2025, copper prices have surged 40% due to widespread supply disruptions. However, this rally is being tempered in the market by declining demand expectations amid a global economic slowdown.

Citi strategist Charlie Massy-Collier attributed this vertical rally to demand from artificial intelligence infrastructure. Since 2022, nearly all demand growth has come from the energy transition and sectors related to digital technology. The market expects copper prices to reach $7.0 per pound in the short term.