Copper dipped to its lowest price in a week during morning trading on Friday May 14, with aluminium also continuing to soften, while a slowdown in China's economic stimulus has dampened the bullish sentiment seen earlier in the week.
The three-month copper price was at $10,245 per tonne at 9am on Friday, down from $10,342 per tonne at the close on Thursday. After hitting an all-time high of $10,767.50 per tonne on Monday, the red metal was trading at its lowest since last Friday, when it started its ascent to a previously unseen price. There was an intake of 10,000 tonnes of copper into warehouses in Rotterdam on Friday, the first inflow of material into the Dutch city (which holds 87% of total copper in the LME network at 121,250 tonnes) since April...