METALS-Copper falls as LME stocks edge higher and mine supply concerns ease

Benchmark three-month copper on the London Metal Exchange was down 0.1% at $14,385 a metric ton by 1016 GMT.

Available copper stocks in LME-registered warehouses rose to a two-month high of 147,450 tons after 8,225 tons of inflows into US warehouses, daily exchange data showed. <0#MCUSTX-LOC>

Copper inventories outside the US have declined in recent months as traders diverted shipments to the country ahead of potential tariffs on refined copper imports, helping prices to a record high of $14,875 a ton on September 10.

Deutsche Bank's head of metals research, Daniel Ghali, said the threat of US tariffs is part of a broader strategic shift driven by national security concerns over concentrated critical minerals supply chains rather than a one-off policy risk.

Even if tariff concerns were removed, transportation costs and market friction would continue to discourage large-scale exports from the US, he added in a note.

In top metals consumer China, meanwhile, economic growth bounced off three-year lows in the third quarter owing to higher exports. The country's property market, however, remains in a downturn. New home prices fell again in September, extending a more than three-year slump.

On the supply side, workers at Antofagasta's Centinela mine ended a strike that began on October 7.

Among other LME metals, aluminium was steady at $3,000 a ton. China's primary aluminium production hit a record quarterly high over July to September as smelters maintained high operating rates despite a government-imposed capacity ceiling.

In other metals, zinc rose 1.1% to $3,730.50 a ton, lead added 0.2% to $1,891.50, tin gained 0.4% to $50,330 and nickel gained 0.9% to $15,495.