Copper holds above $14,000 per metric ton as stocks outside US tighten

On the supply side, Chile's Codelco paused one of its expansion projects at its flagship El Teniente mine a year after a deadly collapse, saying recent studies show greater seismic risk.

"We remain constructive on the copper market given the physical and longer-dated tightening, the supply disappointments, and the uncertainty around tariffs," analysts at RBC Capital Markets said.

Supporting copper and other growth-dependent metals was improved risk sentiment after U.S. President Donald Trump said his administration had "very good discussions" with Iran on Tuesday, fuelling expectations of an end to the five-month war.

Among other LME metals, zinc CMZN3 rose 0.5% to $3,691 a ton in official activity after hitting $3,709, a four-year high. With LME available zinc stocks at 73,825 tons, the lowest level since December, short-term LME zinc contracts were trading at a premium over contracts with longer maturities. CMZN0-3

LME aluminium CMAL3 added 0.2% to $3,229, lead CMPB3 fell 0.3% to $1,889.5, tin CMSN3 gained 0.7% to $56,400 and nickel CMNI3 lost 0.7% to $17,080.