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Live Updates  >  Live Update Details

2026-10-31 15:32:24

[COMEX Copper Futures Fall for Second Consecutive Day; Weakening Tariff Expectations May Lead to Inventory Outflows] ⑴ Chicago Mercantile Exchange copper futures fell for the second consecutive day and the second consecutive week on Friday, marking the second consecutive monthly decline. ⑵ Regarding inventories, copper stocks in COMEX registered warehouses continue to increase, currently standing at approximately 726,000 metric tons. ⑶ Market expectations for the Trump administration to impose tariffs on copper are weakening. If these tariff expectations do not materialize, inventories may flow from the United States to other warehouses globally, quickly easing market supply tensions and causing copper prices to pull back. ⑷ In addition, Rio Tinto has restarted underground mining operations at its Oyu Tolgoi mine in Mongolia, and Chile reported a 15% year-on-year decrease in copper production in September.

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