Copper Price Volatility Ahead of US Inflation Data and Fed Speech

Copper price remains volatile as investors weigh key market drivers ahead of US inflation data and Fed Chair's speech. The red metal has been range-bound in recent sessions, with supply concerns and strong exports supporting its long-term bullish outlook.

Mining disruptions in top producers like Chile have added to the bullish outlook, while the surge in US copper imports, particularly over 200,000 tonnes in July, has increased stockpiles. The country's inventories now exceed 1 million tonnes, largely built on bets that Trump's administration may impose levies on refined copper imports.

Additionally, copper stockpiles have risen in the UK and China warehouses, easing some pressure off prices. However, the market will likely react to the Fed's Chair speech and performance of the US dollar amid persistent economic uncertainties.