FX.co ★ Copper Holds Advance on Falling Stockpiles

Copper futures remained above $5 per pound on Monday, nearing three-month highs amid increasing concerns over a tightening global supply. Last week, inventories at the London Metal Exchange decreased once more, reaching 91,275 metric tons—the lowest since almost two years. Similarly, figures from the Shanghai Futures Exchange indicated a 19.11% drop in copper stockpiles to 81,550 metric tons, marking a one-month low. These inventory reductions are occurring as traders redirect shipments towards the US to preempt potential tariffs. Since February, when the Trump administration initiated an investigation into copper imports, about 400 kilotons have been expedited into the US in anticipation of possible duties, leading to a supply crunch in other markets.