LME Copper prices declined by 0.5 percent yesterday on the back of concern of supply surplus owing to slowing demand growth in Europe and China. Also, probe into Qingdau port raised concerns regarding demand of the metal as collateral. Further, strength in the DX exerted downside pressure on prices.
However, rise in risk appetite in the market sentiments coupled with decline in inventories by 0.3 percent cushioned sharp fall. The red metal touched an intra-day low of $6636/tonne and closed at $6674.8/tonne on Monday
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