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Copper edges higher despite persistent macro headwinds
Copper advanced on Tuesday after a sharp selloff in the previous session, even as a strong dollar, elevated oil prices and concerns about Chinese demand kept a cap on bullish sentiment. Benchmark three-month copper on the London Metal Exchange rose 0.34% to $14,461.50 a metric ton, while the most-traded copper contract on the Shanghai Futures Exchange edged up 0.09% to 109,530 yuan ($16,335.08) a ton by 0332 GMT. LME copper fell 1.4% on Monday, touching $14,343, its lowest in more than ten days, after weak Chinese industrial profits data added to pressure from rising oil prices and a stronger ...
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