Copper futures rise above $6.6/lb on tighter supply

Copper futures rose above $6.6 per pound on Tuesday, extending gains for a second consecutive session amid ongoing supply-side constraints.

Data showed that copper output in top producer Chile fell 9.4% in July from a year earlier, highlighting tightening conditions in global markets.

Mining disruptions in Chile, as well as in major producers Indonesia and the Democratic Republic of Congo, have further fueled concerns over supply.

Meanwhile, a recent supply squeeze in London showed signs of easing, with the premium for spot copper over three-month futures narrowing.

The London Metal Exchange also reported improving inventories as metal deliveries increased.

However, traders continued redirecting copper shipments toward the US ahead of potential new import tariffs, with the White House yet to make a decision on the issue.