News Summary

• The revived trade is tightening global availability of the industrial metal.
• Front-month Comex contracts now trading more than $500 a ton above LME cash prices, levels not seen since last autumn.
• The Department of Commerce faces a June 30 deadline to deliver an update on the u.s. copper market that could pave the way for duties starting January 2027.
• Trafigura Group last week moved to withdraw hundreds of millions of dollars of copper from LME warehouses, the largest withdrawal since 2013.