Gate News reports that on March 17, according to Hyperinsight monitoring, London Metal Exchange (LME) copper inventories surged by 18,775 tons, reaching a new high since 2019. The sudden increase in supply pressure has put downward pressure on copper prices. As a result, the price of COPPER (copper futures mapping contract) on Hyperliquid briefly fell over 1.4%, currently at $5.76. On-chain longs are hit hardest, with the largest long position on Hyperliquid (address 0x877) showing an unrealized loss of 41%, with a position size of approximately $4.02 million, an average entry price of $5.998, and a liquidation price of $5.313.
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