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Weak demand, higher stocks to challenge copper bulls
Copper prices rose on Monday as the dollar declined, but weak demand prospects, particularly in top consumer China along with climbing inventories are expected to challenge bullish sentiment in industrial metal markets. Benchmark copper on the London Metal Exchange traded 0.4% higher at $13,043 a metric ton in official rings. Prices have dropped 10% since hitting a record peak at $14527.50 on January 29. A softer U.S. currency makes dollar-priced metals cheaper for holders of other currencies, a relationship used by funds in numerical models to generate buy and sell signals. Traders say the market is still dominated ... (full story)
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