LIVE MARKET ALERT Copper futures traded lower in intraday dealings, with the metal quoted around 6.03 per pound, reflecting a decline of 1.79%. The move comes as participants adjust exposure in response to a softer tone in broader base metals sentiment and shifting expectations around industrial demand growth.
Market activity indicates sustained selling interest from speculative accounts while physical buyers remain cautious amid uneven manufacturing signals. Technical indicators show the metal retesting near-term support levels, suggesting momentum may steady if trading volumes normalize in the next session.
Key Drivers:
• Moderation in industrial production outlook influencing demand projections.
• Technical resistance near recent highs prompting short-term profit-taking.
This intraday commentary is provided for informational purposes only and does not constitute investment advice or a recommendation to engage in any trading activity.
Copper Prices Dip as Traders Adjust Risk Positions
"Copper futures fell 1.79% to around 6.03 per pound as weaker industrial demand outlook and profit-taking pressured prices, with technical support levels now being retested."
Market activity indicates sustained selling interest from speculative accounts while physical buyers remain cautious amid uneven manufacturing signals. Technical indicators show the metal retesting near-term support levels, suggesting momentum may steady if trading volumes normalize in the next session.
Key Drivers:
• Moderation in industrial production outlook influencing demand projections.
• Technical resistance near recent highs prompting short-term profit-taking.
This intraday commentary is provided for informational purposes only and does not constitute investment advice or a recommendation to engage in any trading activity.