Copper Erases Tariff Selloff as Shanghai Stockpiles Hit Three-Year Low

Copper closed Tuesday a hair below its all-time high, extending its winning streak to six sessions as Chinese buyers restocked ahead of back-to-back holidays and warehouse inventories in Shanghai and London kept draining. Three-month copper on the London Metal Exchange settled at $14,783 a metric ton, up 0.8%, according to Shanghai Metals Market, leaving it $92 short of the $14,875 record set Sept. 10. Comex copper for December delivery hit $6.871 a pound in New York during the session, within 2 cents of its $6.8885 record settlement from Sept. 9. The run is copper’s longest in four months, Bloomberg reported….