LME Copper Prices Stay Near Record Highs Amid Global Supply Concerns

Copper prices on the London Metal Exchange (LME) remained near record highs at $14,350 per tonne as of September 5, up about 0.7% from August 29.

The surge is due to persistent concerns over global mine supply and tightening physical availability outside the US, as well as tariff-driven trade flows.

LME inventories declined by around 5,000 tonnes in a week, falling to 233,700 tonnes on September 4 from 238,700 tonnes on August 29.

The diversion of metal towards the US has reduced spot availability in Europe and Asia, with US imports reaching a record 225,094 tonnes in July.