<\/p>\n
Copper held the biggest loss in more than three weeks after traders made significant deliveries of the metal to London Metal Exchange warehouses, easing a historic squeeze.<\/p>\n
Readily available copper inventories tracked by the LME jumped the most since April, adding more than 20,000 tons on Tuesday. Trafigura Group was behind a significant share of the metal, Bloomberg News reported, while other traders were also arranging to bring copper onto the exchange.<\/p>\n
Benchmark three-month copper futures on the LME fell as much as 0.5% before paring losses to trade at $13 976 a ton as of 11:02 a.m. in Shanghai. That followed a decline of 1.2% on Tuesday, which was the biggest one-day drop since July 23.<\/p>\n
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The arrival of copper in LME warehouses relieves some pressure after stockpiles with the bourse were drained by a surge in shipments to the US. That crunch was driven largely by an arbitrage trade in anticipation of import tariffs, but a deadline for the US Commerce Department\u2019s recommendation to President Donald Trump passed in June with no announcement from the White House.<\/p>\n
In another sign the supply crunch was easing, the closely watched spread between copper for immediate delivery and metal delivered three months out dropped to $248 a metric ton Tuesday from a backwardation of as much as $545 on Monday. Another key one-day price spread known as Tom\/next also fell, after spiking to levels last seen during a major squeeze in 2021.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Copper #holds #loss #deliveries #LME #mitigate #supply #crunch<\/p>\n","protected":false},"excerpt":{"rendered":"
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