Copper Prices Stabilize Amid Ongoing Supply Risks

Copper prices have stabilized around $6.57 per pound after recent gains, buoyed by ongoing supply-side challenges.

Analysts point to a Congolese export ban and decreased output from major producers Chile and Peru as key factors supporting prices.

Chile's copper production plummeted 9.4% year-on-year in July due to severe weather and mine maintenance, while China's refined copper production dropped 3% to 1.1 million tons in June.

Tariff uncertainty continues to drive shipments into the US, pushing Comex inventories to record highs and tightening supplies elsewhere.