Copper Prices Rise on Tightening Global Inventories and Supply Fundamentals

Copper prices have risen by 1.32% to ₹1,365, supported by tightening global inventories and improving supply fundamentals despite mixed signals on demand.

The decline in London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE) warehouses has highlighted tightening availability outside the US.

LME copper inventories have fallen from 400,000 tonnes in April to 238,350 tonnes, while SHFE stocks declined sharply from over 430,000 tonnes in March to approximately 69,300 tonnes.

The cash LME copper contract traded at a $40 per tonne premium over the three-month contract, the highest in seven months, reflecting tight nearby supply conditions.