Copper futures climbed above $6.5 per pound on Friday, recovering losses from earlier in the week as tight physical supply continued to underpin prices. The copper market remains vulnerable after months of outflows, partly due to metal being diverted to the US ahead of anticipated tariffs. Top producer Chile also expects copper output to decline this year as ongoing disruptions continue to weigh on mines and development projects. However, a recent increase in metal deliveries to London Metal Exchange warehouses helped ease a historic supply squeeze. Elsewhere, copper prices were supported by a weaker dollar as skepticism over the US government’s bond buyback plan reduced the greenback’s appeal, boosting demand for metals and other currencies. Meanwhile, investors continued to monitor geopolitical developments as the US prepares sweeping new economic sanctions against Iran, pushing oil prices higher and adding to inflation concerns.