Copper Prices Surge Above $6.6 per Pound on Tightening Global Supply

Copper futures have surged above $6.6 per pound, moving closer to fresh record highs as tightening global supply supports prices.

Traders are ramping up shipments to the US while drawing down inventories elsewhere ahead of an expected decision by the Trump administration on copper import tariffs.

Industry data shows that more than 200,000 tons of copper arrived at US ports in July, marking the largest monthly inflow in over a decade and adding to substantial stockpiles built up over the past year.

Copper inventories across the London Metal Exchange's warehousing network have fallen to a five-month low, with traders attributing increased shipments to China to ease a domestic supply shortage.