Copper closed $35 lower after crashing over 2.4% on Wednesday, prices remain below $6,900 per tonne following further deliveries into LME-listed warehouses.
“Copper was weaker earlier on news that LME stocks rose by another 21,000 tonnes overnight, sending prices to a low of $6,809 at one point, but the complex has recouped its earlier losses. Still, the chart damage remains in place,” Edward Meir, INTL FCStone analyst said.
Base metals were on divergent paths as tin, copper and nickel struggled to build the momentum for gains and all closed in negative territory. While the rest of the complex recovered with more...
