1655 GMT - Copper is likely to face near-term challenges due to the threat of U.S. tariffs on Chinese goods, but Beijing's stimulus measures to boost the economy should support global demand, according to MUFG analysts. "Copper is trading sideways with push-and-pull dynamics in play this year," they say in a research note. MUFG forecasts prices to move toward $10,000 a metric ton by the end of the year. Aluminum is seen as more insulated from bearish macroeconomic pressures. According to the analysts, tight supply in China is expected to push prices higher as the market seeks new sources outside of the country. LME three-month copper currently trades 0.4% higher at $9,085 a metric ton, while aluminum is up 1.3% to $2,540.50 a ton. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 11:55 ET (16:55 GMT)
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