Comex copper futures rebound, LME nickel surges nearly 3%

Comex copper futures rebounded as tight global physical supply outweighed pressure from the U.S. Democrats' sweep of both chambers of Congress, which weighed on copper import tax and AI computing demand expectations. LME nickel surged nearly 3% in a single day after Indonesia explicitly warned against its resources being bought up at bargain prices. The moves highlight how supply-side constraints and resource nationalism are offsetting macro headwinds from U.S. policy shifts. Traders will watch whether Indonesia follows its warning with export restrictions or policy measures, and whether copper's rebound sustains if import tax and AI demand concerns persist.