Lun copper rose, continued to be supported by low inventory and inventory decline

On June 27, according to media reports, London copper prices rose on Tuesday, as low supply and falling stock exchanges offset the pressure of weak demand.

The main contract of Lun copper futures is currently up 0.6% to $8441.50 a ton. LME spot copper premiums rose to $31 a tonne over LME copper futures, the highest level since November last year, indicating tight spot supply.

LME copper registered warehouse receipts fell to 25,725 tons, the lowest since October 2021. Copper inventories in the SHFE and bonded warehouses in China also fell.