Rising LME Inventories Weigh on Copper Prices Despite Supply Disruptions

Copper prices edged down by 0.03% to Rs 1,371.7 due to rising LME inventories easing near-term supply concerns.

The LME copper stocks increased by a further 12,425 tonnes to 235,975 tonnes, up 11% from a week earlier but still 40% below levels three months ago.

Rising inventories have reduced concerns over tight supply caused by earlier shipments to US warehouses ahead of potential tariffs on refined copper.

However, supply disruptions continue to provide underlying support. Codelco and Antofagasta reduced their production guidance due to severe weather conditions in Chile.