Copper futures stabilized during the trading session, marking the first positive close in five sessions after a recent period of volatility. Market activity was influenced by reported inventories in U.S. Comex approved warehouses, which rose above 500,000 metric tons for the first time. This increase in stockpiling occurred alongside proposed policy changes involving a 15% universal tariff on refined copper imports scheduled for early 2027. Supply concerns continue to support prices as major mine disruptions impact global output. Notable incidents include a mudslide at the Grasberg mine in Indonesia, which has impacted 70% of output, as well as labor strikes in Chile and seismic issues in the Democratic Republic of Congo. Market participants are monitoring these fundamental factors alongside technical analysis to determine price movement.
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