Copper Prices Continue Decline Amid Inventory Concerns and Weakened Asian Demand

Copper prices have continued their downward trend as investors focus on rising inventories and diminished interest from Asian buyers. According to Jin10, the previous trading session saw a significant drop of 3.2% in copper prices. Guoyuan Futures analyst Fan Rui noted that the increase in inventory levels indicates that traders are redirecting materials initially intended for the U.S. to other regions' LME warehouses, following the disappearance of the U.S. market premium. Concerns over potential import tariffs have led to a decrease in the Comex premium over LME from its peak last summer. In the physical market, despite a wave of bargain buying on Monday, purchasing by processors and manufacturers has slowed.