Global copper prices fell sharply on Friday after the London Metal Exchange (LME) temporarily halted trading, bringing an unusually turbulent week in commodity markets to a close. Benchmark three-month copper futures on the LME retreated by around 4 % to near $13,000 per tonne, reversing some earlier gains after the exchange experienced a delay in opening due to technical issues.
Earlier in the week, copper had surged to record highs above $14,500 per tonne, driven by speculative buying and a broader rally in base metals. However, profit-taking and heightened volatility saw prices give back ground as the market grappled with conflicting signals from traders and global economic data.
The LME’s temporary trading suspension acted as a pressure release for markets that had become overstretched during a period of intense price swings. Other industrial metals, including gold and silver, also experienced notable pullbacks, highlighting the broad-based correction across commodities.
Market participants are now watching closely for further developments in supply and demand dynamics, particularly amid ongoing global economic uncertainties and shifting investor sentiment toward risk-assets.