🔴 HG=F is trading 3.4% down today on record inventories and shifting tariff sentiment

HG=F is trading 3.4% down at $6.41 following a recent rally fueled by tariff-driven stockpiling and record CME copper inventories.

• The pullback comes amid broader commodity volatility and shifting sentiment regarding U.S. tariff risks and Chinese demand.
• Market analysts suggest the move is primarily driven by macro and positioning dynamics in copper futures rather than asset-specific developments.