Copper prices were mixed across major exchanges on Tuesday, as U.S. efforts to classify the metal as a critical mineral boosted market sentiment, while high inventories capped gains.

Three-month copper on the London Metal Exchange rose 0.06% to $9,802 per metric ton by 0702 GMT, while the most-traded copper contract on the Shanghai Futures Exchange edged down 0.13% to 79,190 yuan ($11,071) a ton.

Copper is expected to gain increased interest as the U.S. seeks to elevate its significance, with the U.S. Geological Survey proposing copper’s addition to the 2025 draft list of critical minerals, said analysts from ANZ.

“Inclusion would enable funding incentives and streamlined permitting for exploration, mining and processing projects.”

LME copper is expected to trade rangebound over the next three weeks, with mild downside risk due to high inventories in the long run and post-tariff normalization, according to commodities consultancy BigMint.

The downside is limited by key support levels, while gains are constrained by weak demand and economic uncertainty. While volatility persists, aggressive gains look unlikely, it added.

Meanwhile, Chile’s mining regulator Sernageomin has imposed additional requirements on Codelco for resuming operations in areas affected by a deadly collapse at its El Teniente copper mine in July.

Codelco, the world’s largest copper producer, had cut its copper forecast for the year due to the impact of the incident.

Among other London metals, aluminium eased 0.29% to $2,617 a ton, nickel lost 0.17% to $15,075, zinc dipped 0.66% to $2,799.5, and tin fell 0.03% to $33,800, while lead  gained 0.48% to $2,004.5.

SHFE aluminium edged down 0.12% to 20,715 yuan, and zinc eased 0.38% to 22,270 yuan, while nickel  increased 0.08% to 120,370 yuan, lead gained 0.5% to 16,930 yuan, and tin climbed 0.14% to 269,420 yuan.