(Adds analyst comment, updates prices at 0700 GMT)
SINGAPORE, June 9 (Reuters) - Copper prices nudged up on
Tuesday, as dwindling London Metal Exchange inventories helped
it shrug off pressure from concerns about Middle East tensions,
inflation, and lower China imports.
Benchmark three-month copper on the London Metal
Exchange was up 0.48% to $13,681.5 a metric ton by 0702 GMT.
The most-traded copper contract on the Shanghai Futures
Exchange edged up 0.56% to 104,650 yuan ($15,452.42) a
ton.
Traders have been shipping the red metal to the U.S. from
LME warehouses, with the Donald Trump administration expected to
decide on copper import tariffs at the end of June.
Elsewhere, data released on Tuesday from top consumer China
showed a marked decline in imports of unwrought copper this
year, which capped price gains.
For the first five months of 2026, China imported 2.01 million
tons of unwrought copper and copper products, down 7% from a
year earlier.
The Yangshan copper premium , which reflects
demand for imported copper, stood at $64 a ton on Monday, its
lowest since April 28.
The market will closely watch the release of U.S. CPI data
for May on Wednesday.
"If inflation comes in above expectations, the market will price
an increased likelihood of the Federal Reserve increasing
interest rates," Craig Lang, principal analyst at CRU, said.
"I would expect copper and other risk assets to react
negatively to that event," he said.
Oil dipped 1.16%, close to levels before an
exchange of strikes between Iran and Israel over the weekend saw
them surge. High energy costs dampen hopes for growth-dependent
industrial metals.
Among other LME metals, aluminium added 0.19%, zinc
gained 0.81%, lead increased 0.35%, nickel
rose 0.21% and tin gained 0.84%.
Elsewhere on SHFE, aluminium ticked 0.08% higher,
zinc added 0.26%, lead lost 1.25%, nickel
lost 1.14% and tin increased 0.74%.
($1 = 6.7724 Chinese yuan renminbi)