Higher global inventories pressure Copper futures

Copper futures traded lower during a low volume session as global warehouse inventories continued a relentless climb. Combined stocks across major exchanges reached the highest levels since 2003, totaling over 1 million tons. This supply overhang weighed on sentiment even as prices attempted to stabilize in a sideways consolidation pattern. Additionally, a stronger dollar and cautious signals from the Federal Reserve minutes pressured the metals complex. While some policy makers remained open to future rate cuts, others suggested holding rates steady to combat stubborn inflation. Traders currently have two 25 bps ...