Comex copper futures trading in COMEX copper futures is

Trading in COMEX copper futures is choppy today, with prices swinging between $3.99 and $4.05/lb. Traders note strong physical buying from South Korean industrials as they replenish seasonal inventories. As the 2025 winter season approaches, the odds favor price weakness in meats and gasoline prices over the coming weeks and months. However, livestock futures remain at record highs and were elevated during the 2024/2025 offseason. Meanwhile, gasoline demand should decline as temperatures drop, but crude oil and oil products remain sensitive to events in the Middle East. On Tuesday, the Comex-LME price premium soared by 138%, moving above $2,600 a tonne, according to London-based agency Benchmark Mineral Intelligence. The COMEX copper futures curve remains moderately backwardated, with front-month trading near $4.03/lb. Traders interpret this as a signal of tight near-term supply, keeping the market well-supported despite currency fluctuations.