“Selling pressure has remained somewhat subdued this month,” Fastmarkets research analyst Andy Farida said.
The LME three-month copper price dipped below $6,200 per tonne once more to trade around $6,186.50 per tonne this morning, with an 8,325-tonne fresh cancelation failing to offer any price support.
A 3,050-tonne outflow and 8,325-tonne cancelation were also not supportive of copper futures. LME global copper inventory is now at 154,450 tonnes while on-warrant stocks are 110,350 tonnes.
Copper volumes were unremarkable with 4,450 lots changing hands by 9.30am today, though this topped...