Copper Pares Third Weekly Advance on China Demand Concern

Summary: Last week, copper declined somewhat to pare a third weekly advance. For 3-month delivery, copper lost as much as 1.1% to trade a $7275.25 a metric ton on the London Metal Exchange later in the week. As a whole though, copper was still up by around 1%. Concern over inflation and a slowdown in demand from China has been fueling some of the weakness in copper lately. But according to an analyst with Founder Futures, Co, inventories have been pretty drawn down lately so further gains may occur over the next few weeks. Read more…