Copper inventories in the United States hit a record high, with a supply gap of 640,000 tons in non-U.S. markets

(1) Recently, a copper buying frenzy has erupted among U.S. traders. As of May 29, copper inventories at the New York Mercantile Exchange reached approximately 640,200 tons, hitting a record high. (2) According to Goldman Sachs estimates, the copper supply gap in markets outside the United States has surged to 640,000 tons. While copper piles up in U.S. warehouses, there is a shortage in non-U.S. regions.