London Metal Exchange (LME) three-month metal briefly broke back up above the US$10,000-per tonne level last week but collapsed again on Friday. Last trading around $9,650, the copper price seems too high to attract fresh buying but global inventory is too low for bears to dare short it. (file pic shows Copper smelting in Peru.)
LONDON: New year but same old problems for Doctor Copper.
The copper market remains decidedly out of favour among the investment community with fund positioning extremely light by historical standards.
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