Copper prices stabilized after an earlier surge in technology stocks, which had been fueled by optimism surrounding the artificial intelligence boom, began to lose momentum.

On Wednesday, copper contract prices on the London Metal Exchange were largely flat, pressured by broader market risk aversion and a stronger U.S. dollar.

Data center construction tied to the AI industry is expected to drive copper demand, a key factor that had powered the recent rally in U.S. equities this week.

Last month, proposed U.S. tariffs on refined metals prompted a flood of copper into the United States, tightening supply elsewhere and pushing copper prices to a record high. Since then, the copper market has remained in a consolidation phase.

At 2:16 p.m. Singapore time, LME copper futures fell 0.2% to $14,381.50 per tonne. Aluminum prices rose 0.2%, while zinc prices declined 0.2%.