FX.co ★ Copper Set for Second Weekly Gain

Copper futures hovered near $6 per pound on Friday, heading for a second straight weekly gain as investors looked ahead to key demand signals from China’s upcoming parliamentary gathering. The annual “Two Sessions” meeting, scheduled from March 4 to around March 11, will also see the release of the government’s 15th Five-Year Plan, setting policy priorities for 2026–2030.

Chinese buyers have remained largely on the sidelines since returning from the week-long Lunar New Year break, with some importers postponing purchases in response to elevated prices. Many domestic fabricators are not expected to fully ramp up operations until early next month. Meanwhile, copper inventories in exchange-monitored warehouses climbed to record levels in late January, driven in part by shifts in US trade policy and disruptions at mining operations.