According to CoinMeta, copper prices experienced the largest decline in over three weeks as traders made large deliveries of copper to the warehouses of the London Metal Exchange (LME), alleviating the previous supply shortage. The spot copper inventory tracked by LME increased by more than 20,000 tons on Tuesday, marking the largest increase since April. Trafigura Group was a major delivery party, and other traders were also arranging to transport copper to the exchange. The three-month copper futures contract LME fell by 0.5% at one point before the decline narrowed. Previously, copper prices dropped by 1.2% on Tuesday, recording the largest single-day decline since July 23. The supply shortage was mainly caused by arbitrage trading based on market expectations of import tariffs, but the deadline for the U.S. Department of Commerce to submit recommendations to Trump expired in June, and the White House has yet to issue any announcements. Another sign of the easing supply shortage is that the price difference between spot copper and three-month copper futures fell to $248 per ton on Tuesday, compared to a spot premium of up to $545 on Monday.