Global copper prices traded near elevated levels, amid ongoing concerns over constrained supply and rising demand from industrial and energy sectors, according to Bloomberg reports.

In the latest data, copper prices on the London Metal Exchange showed little change, with the red metal holding near $11,727.50 per metric ton in morning trading, as prices stabilized compared with previous sessions despite broader market volatility.

Futures data on the COMEX exchange showed a decline in trading volumes and a slight drop in open interest, reflecting reduced market activity compared with recent sessions, while investors continue to monitor global supply and demand dynamics.

Prices remain close to historical highs, having approached the $12,000 per ton threshold in recent sessions, driven by stronger global demand—particularly from digital transformation and renewable energy sectors—alongside investor concerns over inventory accumulation and tightening supply.

Bloomberg also reported that higher copper prices are boosting the performance of European mining stocks, which are on track for one of their strongest years since 2016, supported by the rally in this key metal. Copper continues to attract global market attention as a leading indicator of economic health and industrial demand, given its extensive use in electricity, infrastructure, electric vehicles, and data centers, making its price movements influential across commodity and metals markets more broadly.

Bitcoin saw relatively subdued trading on Thursday, extending its cautious performance amid continued outflows from exchange-traded funds (ETFs), alongside broad market caution ahead of key US inflation data that could influence the Federal Reserve’s interest rate outlook.

The world’s largest cryptocurrency traded 0.3% lower at $86,554.6 as of 01:55 AM US Eastern Time (06:55 GMT).

Bitcoin failed to stage a strong and sustained rebound above the $90,000 level following the sharp gains recorded earlier this year, reflecting a market entering a consolidation and stabilization phase rather than renewed expansion.

ETF outflows and Fed caution weigh on prices

Investors continued to pull capital from US-listed spot Bitcoin ETFs, extending a pattern of net redemptions that has weakened one of the most important sources of institutional demand.

Recent session data show persistent ETF outflows, which market participants say have removed a key pillar of support that had fueled Bitcoin’s earlier rally this year, adding further pressure on prices.

Market focus on Thursday centers on US consumer price data for November, with the release of the Consumer Price Index (CPI).

Economists expect the inflation data to show a notable rise in the annual headline inflation rate, a development that could complicate Federal Reserve deliberations over future interest rate moves.

Earlier this week, delayed US jobs and employment data painted a mixed picture of the labor market, with nonfarm payrolls rising modestly in November after a sharp decline in October, while the unemployment rate climbed to its highest level in years.

These conflicting signals have clouded market expectations regarding the Fed’s next policy steps and reduced confidence in the continuation of monetary easing.

US President Donald Trump previously indicated that his preferred candidate for the next Federal Reserve chair would be someone who strongly believes in cutting interest rates, comments that have sparked broad debate over the future direction of central bank policy.

Cryptocurrency prices today: altcoins decline, Cardano down 5%

Most major altcoins declined on Thursday amid cautious market sentiment, despite Bitcoin’s relative stability.

Ethereum, the world’s second-largest cryptocurrency, fell 3.7% to $2,828.92.

Meanwhile, XRP, the third-largest cryptocurrency by market capitalization, slipped 4.7% to $1.83.

The European Central Bank’s interest rate decision was released on Thursday at the conclusion of the December 17–18 meeting, with the bank keeping interest rates unchanged at a range of 2.15%, the lowest level since October 2022, in line with most expectations in global markets, marking the fourth consecutive meeting with rates left on hold.

The UK interest rate decision was released on Thursday at the conclusion of the December 18 meeting, with the Bank of England cutting interest rates by around 25 basis points to a range of 3.75%, the lowest level since December 2022, in line with market expectations, marking the fourth step of British monetary easing this year.