Copper Price Forecast: China Property Slump Puts $6 Support in Focus
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Key Points:
- China’s property slump and weak credit growth are weighing on copper demand.
- Tight supply and AI infrastructure demand support the long-term bullish outlook.
- The $6 support will determine whether copper resumes its rally.
Copper (XCU) dropped from the record level as the weakness in China creates risks for the rally. The property slump and slow credit growth are reducing demand from construction, appliances and vehicles. But the strong exports, tight supply and demand from AI data centers and power infrastructure support the bullish case. The price outlook now depends on stimulus measures, supply conditions and the ability of copper to hold the key $6 support area.