As traders closely monitor rising copper inventories in the US and US President Trump is expected to decide on import tariffs, LME's three-month copper surpassed 14,000 US dollars/ton for the first time since June 3. According to IHS Markit shipping data, since records began in 2014, more than 200,000 tons of copper arrived at US ports in July this year, setting a record high in a single month. This has further exacerbated copper inventory backlogs in US warehouses and ports, and has strained copper supply for buyers in other parts of the world. Despite uncertainty about the refined copper tariff plan, the inflow of US copper is still accelerating. The US Department of Commerce was scheduled to make a proposal by June 30, but no decision has yet been announced. The US copper price is still higher than the LME copper price, and cross-market arbitrage trading still has room for profit.

As traders closely monitor rising copper inventories in the US and US President Trump is expected to decide on import tariffs, LME's three-month copper surpassed 14,000 US dollars/ton for the first time since June 3. According to IHS Markit shipping data, since records began in 2014, more than 200,000 tons of copper arrived at US ports in July this year, setting a record high in a single month. This has further exacerbated copper inventory backlogs in US warehouses and ports, and has strained copper supply for buyers in other parts of the world. Despite uncertainty about the refined copper tariff plan, the inflow of US copper is still accelerating. The US Department of Commerce was scheduled to make a proposal by June 30, but no decision has yet been announced. The US copper price is still higher than the LME copper price, and cross-market arbitrage trading still has room for profit.