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2026-05-23 01:37:12
[Historic Massive Deliveries! Trafigura Frantically Cancels and Withdraws Massive Amounts of Copper Futures from LME Warehouses] Amidst highly attractive arbitrage opportunities emerging in the market, global commodities trading giant Trafigura Group has taken action, withdrawing hundreds of millions of dollars worth of copper futures inventory from overseas warehouses owned by the London Metal Exchange (LME). Official data shows that on May 22, the trading giant placed a concentrated order, applying to cancel and withdraw over 51,000 tons of copper futures from LME bonded warehouses in the US and Asia. This is the largest single-day delivery order since 2013. The core driving force behind this historic wave of deliveries is the recent surge in copper futures prices on the New York Mercantile Exchange (Comex), significantly exceeding the benchmark copper price on the London Metal Exchange (LME). This extremely rare cross-market price discrepancy is frantically incentivizing global traders to ship bulk copper inventories to the US for physical delivery.
