Copper prices extended their weekly decline as exchange-tracked inventories continued to build, signaling weakening demand from industrial users. The red metal's persistent weakness reflects broader concerns about manufacturing activity and economic growth in key markets. Industrial users have reduced purchases amid slowing production, contributing to the accumulation of stockpiles.

Exchange-tracked inventories have risen steadily in recent weeks, a clear indicator of supply-demand imbalance in the copper market. The buildup suggests that producers are struggling to find buyers at current price levels, putting downward pressure on the commodity. This trend has been particularly pronounced in major trading hubs where inventory levels serve as a barometer for market sentiment.

The third consecutive weekly decline highlights the challenges facing the copper market as it grapples with oversupply and tepid demand. With inventories continuing to rise, the metal faces further downside risk unless demand picks up significantly Exchange-tracked inventories remain the key metric to watch for traders assessing the market's direction.