Copper Stabilizes Near Three-Week Low Amid Easing LME Inventories

Copper prices stabilized near their three-week low on Tuesday, despite an initial rebound. The metal's price had fallen to $13,958 per metric ton on Monday, its lowest level in over three weeks.

The London Metal Exchange (LME) inventories rose 3.59% to 242,900 tons on Friday, easing concerns about near-term supply tightness. ING analysts noted that rising inventories and softer nearby spreads suggest that extreme tightness across the LME market is beginning to moderate.

Physical buying in China showed signs of improvement, with demand recovering after a selloff triggered by a Reuters report last week that the White House was hesitant to impose tariffs on copper. The Yangshan copper premium rose to $100 per ton on Monday, its highest level since mid-August.