The London Metal Exchange three-month copper price fell below $9,200 per tonne on Wednesday February 24, despite hitting a new annual high during earlier trading, with the rest of the base metals complex also trading lower following their recent bullish boost.
LME three-month copper's price hit $9,342 per tonne during early morning trading - its highest since since August 2011 - but down by 0.2% at 9am from Monday's close to $9,186 per tonne. After weeks of decline. which had in-part fueled higher prices, LME copper stocks had their first significant inflow on Wednesday, with 8,025 tonnes delivered in the warehouses in Hamburg - at 7,050 tonnes - and Singapore - at 975 tonnes.The metal has also received support from a lower US Dollar Index -...