London Copper Prices Plummet Amid Surging Supplies

Copper prices have dipped to seven-week lows as new deliveries to London warehouses ease supply worries. The London Metal Exchange (LME) saw its biggest inflows of copper in nearly four weeks, pushing London prices into contango and indicating ample availability.

Prices had previously climbed to record highs after traders diverted shipments towards US warehouses ahead of possible tariffs on refined metal. However, with the Trump administration delaying a decision on the matter, prices fell sharply.

The wider metals complex has also been under pressure ahead of an anticipated US Federal Reserve interest rate hike this week.