Copper prices edged lower in early trading but remained above the $13,000-per-tonne mark amid concerns over tightening supply and tariff uncertainty. Sam Crittenden of RBC Capital Markets said, “The market balance remains structurally tight, and the increase in COMEX inventories has come at the expense of a decline in global exchange inventories. The specter of U.S. copper tariffs remains a market factor, as we believe that regardless of whether the tariffs are ultimately implemented, it is unlikely that the high inventory levels in the U.S. will be exported in the short term, even if they were to be re-exported.” LME futures, which hit a record high on Tuesday, are currently down 1.4% at $13,066.50 per ton.