Copper rose to around $5.95 per pound on Tuesday after coming under pressure in the prior session, as investors focused on the upcoming annual convention of the National People’s Congress in top consumer China for demand signals.

The annual “Two Sessions,” scheduled from March 4 to around March 11, is expected to set economic targets, outline policy priorities, and release the 15th Five-Year Plan detailing objectives for 2026–2030.

However, gains in copper may be capped by a rallying dollar, which strengthened as investors sought the reserve currency amid surging energy prices linked to the Middle East conflict.

Markets have pushed back expectations for the next Federal Reserve rate cut to September from earlier forecasts of July, though two 25 basis point reductions remain priced in for 2026.

Meanwhile, the US military is expected to intensify attacks on Iran, with President Donald Trump giving no indication that operations would end soon.
Source: Trading Economics