Copper futures rose above $6.6 per pound, moving closer to fresh record highs as tightening global supply supported prices. Traders continued to ramp up shipments to the US while drawing down inventories elsewhere ahead of an expected decision by the Trump administration on copper import tariffs. Industry data showed that more than 200,000 tons of copper arrived at US ports in July, marking the largest monthly inflow in over a decade and adding to the substantial stockpiles built up over the past year. Meanwhile, copper inventories across the London Metal Exchange’s warehousing network fell to a five-month low, with traders pointing to increased shipments to China to ease a domestic supply shortage. Copper also remained supported by its strong long-term demand outlook, driven by the global transition to clean energy and the rapid expansion of artificial intelligence data centers.