Copper futures traded around $6.76 per pound on Thursday, staying close to record highs as ongoing supply concerns and tariff uncertainty continued to support prices. Markets were awaiting the Trump administration’s decision on imposing new tariffs on refined metal imports, while the persistent premium for copper futures on New York’s Comex continued to create arbitrage opportunities. Traders have continued redirecting shipments toward US warehouses, contributing to sharply declining inventories at warehouses tracked by the London Metal Exchange and the Shanghai Futures Exchange. Major copper-producing countries in South America have also faced operational disruptions this year, weighing on production and exports. Meanwhile, supply has struggled to keep pace with rising demand from data centers, renewable energy projects and electricity grids.