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Commodities Score 38 Neutral

Copper Prices Hold Above $13,000 Amid Chinese Holiday Lull

May 01, 2026 05:30 UTC
HG=F
Short term

Base metals prices remained stable as pre-holiday restocking in China offset low trading volumes. Copper maintained its position above the $13,000 per ton threshold on the London Metals Exchange.

  • Copper and zinc maintained recent gains
  • LME copper prices remained over $13,000 per ton
  • China's Labor Day holiday led to subdued trading activity
  • Pre-holiday restocking by fabricators provided a price floor
  • Nickel prices saw a slight dip

Copper and other base metals, including zinc, held onto recent gains on Friday, resisting the downward pressure seen earlier in the week. The stability comes as market activity slowed significantly across Asia due to regional holidays. The primary driver for the current price floor is the Labor Day holiday in China. Metal fabricators engaged in strategic restocking prior to the start of the country's week-long break, ensuring a steady level of demand that buoyed key commodity prices despite the overall drop in activity. On the London Metals Exchange (LME), copper prices remained resilient, trading above $13,000 per ton. While copper and zinc showed stability, nickel experienced a slight dip during the same session. Trading volumes were further suppressed by the closure of major financial hubs, including Singapore, for the Labor Day holiday. This lack of liquidity typically leads to sideways price action as market participants await the return of Chinese industrial activity and updated demand signals.

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