Copper Rises for 5th Straight Session

Copper futures climbed above $4.46 per pound on Tuesday, advancing for a fifth consecutive session as the metal drew increased investor interest amid potential policy shifts in the US. The US Geological Survey has proposed adding copper to its 2025 draft list of critical minerals, a move that could unlock funding incentives and streamline permitting for exploration, mining, and processing projects.

In corporate developments, a US federal appeals court temporarily blocked a land transfer crucial for Rio Tinto and BHP to proceed with what could become one of the nation’s largest copper mines, adding uncertainty to future supply prospects.

Copper prices have also found support from broader market sentiment, with expectations for US Federal Reserve rate cuts boosting risk assets.

At the Jackson Hole symposium, Fed Chair Jerome Powell signaled that the central bank is likely to ease policy at its next meeting.