Copper retreats from one-week high as inventories rise | Metals Mine

  • Copper retreats from one-week high as inventories rise

    From brecorder.com

    Benchmark three-month copper on the London Metal Exchange was down 0.3percent at USD12,930 a metric ton by 1455 GMT after hitting a more than one-week high of USD13,050 earlier in the session. LME copper has rebounded nearly 4percent over the past four sessions, but is still well below a record peak of USD14,527.50 hit on January 29. “The fact that there are more visible inventories outside of the US is a bit of a dampener, that may indicate a bit of softness in demand,” said Nitesh Shah, commodity strategist at WisdomTree. “But it’s always hard knowing whether it’s inventory that’s going from ... (full story)

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