"Great migration" of copper inventory: Tariff panic triggers LME inventory to be cut in half, and Sino-US negotiations usher in changes?

LME latest data shows that global copper inventory has dropped to 122,400 tons, a sharp drop of more than 50% from the level in February, of which the proportion of cancelled warehouse receipts reached 67,800 tons. Market observations pointed out that due to the possibility of tariffs on imported copper in the United States, large amounts of inventory flowed to the United States recently, resulting in a significant increase in local copper prices.

At the same time, China and the United States will hold their first economic and trade consultation mechanism meeting in the UK from June 8 to 13. Analysts believe that the pressure from the United States to cancel tariffs to stabilize the business environment continues to heat up, and if progress in negotiations can inject positive signals into the commodity market.

Latest closing price and inventory information:

Note: The above information is for reference only and is not for other purposes. Entering the market based on this is at your own risk.