Geopolitics · Bloomberg ·
Copper futures declined 0.6% to $12,775 per metric ton as London Metal Exchange inventories jumped nearly 19,000 tons to 330,375 tons — the highest since September 2019. The stockpile surge reflects weakening physical demand in China and reduced US-bound shipments ahead of potential tariffs. Aluminum also saw volatility due to supply disruption concerns from the Iran conflict.