Copper Prices Consolidate Near Key Support Amid Tariff Uncertainty

Copper prices have been consolidating near the $6.65 support level, according to technical analysis by Traders Union.

Recently, over 200,000 tonnes of copper were shipped into US ports in July as traders front-loaded shipments ahead of possible tariffs, temporarily boosting inventories.

This action has accelerated futures activity and driven increased copper contract liquidity as market participants monitor policy risks.

Copper is showing strong bullish momentum with a high probability of further upside, and the expected trading range is $6.5916 to $6.7474.