Copper prices rose on May 22, 2026, as London Metal Exchange (LME) inventories fell to a 10-week low. Three-month LME copper climbed 1.0% during the session. The metal reached a price of $13,642 per metric ton.
Global trader Trafigura reportedly ordered the withdrawal of 53,325 metric tons of copper. More than half of these inventory cancellations occurred at LME warehouses in New Orleans.
Market participants are positioning for a U.S. copper import tariff ruling expected by late June. COMEX copper traded at a premium as arbitrage plays offset seasonal demand concerns in China.