Recently, COMEX and LME copper prices and inventory differentiation have continued to increase. On August 5, the price difference between US copper and copper reached 621.81 US dollars/ton. Behind this, market expectations of additional tariffs on US refined copper continued to ferment. The spread opens a cross-market arbitrage window and drives the continued flow of global copper resources to the US market. Due to large uncertainties about whether the tariffs will be implemented, the extent of collection, and implementation time, this round of cross-border copper circulation continues. Industry insiders interviewed said that the tight supply and demand pattern of copper ore supply has not changed, and fundamentals combined with macroeconomic factors will still provide strong support for copper prices.

Recently, COMEX and LME copper prices and inventory differentiation have continued to increase. On August 5, the price difference between US copper and copper reached 621.81 US dollars/ton. Behind this, market expectations of additional tariffs on US refined copper continued to ferment. The spread opens a cross-market arbitrage window and drives the continued flow of global copper resources to the US market. Due to large uncertainties about whether the tariffs will be implemented, the extent of collection, and implementation time, this round of cross-border copper circulation continues. Industry insiders interviewed said that the tight supply and demand pattern of copper ore supply has not changed, and fundamentals combined with macroeconomic factors will still provide strong support for copper prices.