Copper Prices Steady at $14,032 per Ton Amid Supply Easing

Copper prices have steadied at around $14,032 per ton after declining to near that level due to fresh deliveries of stockpiles to exchange-tracked warehouses.

This development signals an easing of a supply squeeze that had driven up prices in recent weeks. The metal's price has pulled back sharply since hitting a record high last week when traders were diverting supplies to the US in anticipation of tariffs on refined metal, leaving the rest of the world short of supply.

The London Metal Exchange (LME) warehouses received their biggest deliveries of copper in almost four weeks on Monday. As a result, three-month futures flipped to a premium of $85.75 per ton over copper for immediate delivery, indicating ample supply.