Copper futures dropped below $6.55 per pound on Thursday, hitting their lowest level in more than a week as high prices curbed buying interest in China, the top consumer. A weaker Yangshan premium, a gauge of the cost above the LME benchmark for refined copper imports into China, pointed to softer import demand, falling to $96 per ton after reaching $115 a ton last month. Even so, the market remained supported by supply-side concerns. Codelco, the Chilean state-owned miner, reportedly expects lower copper production this year after setbacks at its mines and development projects, and has scrapped its previous target of 1.34 million metric tons, versus last year’s revised 1.307 million tons. Traders also stayed cautious over potential U.S. import tariffs on copper, which have continued to reroute metal from international markets into U.S. warehouses.