# Copper Hits Intraday Five-Week Low as Inventories Rise, AI Shares Slide By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/38532 Published: 2026-10-23T00:52:14.000Z Updated: 2026-10-23T00:52:14.000Z Section: Investing > The contract was down about 2% at its low, while LME warehouse stocks rose by 70,100 metric tons over two days. London Metal Exchange (LME) three-month copper touched an intraday five-week low Thursday as warehouse inventories climbed and AI-linked shares slid, with the contract down about 2% at its session low. The contract reached $14,076 per metric ton at 4:07 a.m. ET (08:07 UTC), equivalent to about $6.38 per pound. The $14,076 mark was the weakest level in five weeks, but it was recorded during the session rather than as a closing price. The LME quotes copper in U.S. dollars per metric ton, and its price serves as a global benchmark for the metal. The pound figure is a conversion of the same contract price, giving U.S. readers a familiar unit without describing a separate market quote. On-warrant copper inventories at LME warehouses increased by 70,100 metric tons over the two days through Oct. 22. The stock increase and the price decline occurred over the same period. The inventory figure tracks a two-day change, while the $14,076 price records copper at one point during Thursday’s trading. U.S. stocks closed lower later that day. The Nasdaq Composite fell 2.6% to 26,008.86, while the S&P 500 dropped 1.2% to 7,663.43. AI-related shares faced pressure amid concerns about the costs of financing data centers and buying AI chips. The index closes came hours after copper’s early-morning low. Copper had also retreated from a record near $14,875 per metric ton reached in September. Uncertainty over potential U.S. tariffs on refined copper remained part of the market backdrop. Expectations of a tariff had encouraged shipments into U.S. warehouses, tightening availability elsewhere. Earlier TokenPost coverage examined [how tariff concerns have affected copper storage and supply](). ## Links in this article - [how tariff concerns have affected copper storage and supply](https://www.tokenpost.com/news/investing/35583)