3-Month Copper Nearing $6,000 Per Metric Ton on the LME

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Copper traded on the London Metal Exchange is within 1.2% of $6,000 after a 4-week selloff triggered by slowing demand from China and rising supplies. Data from the Commodity Futures Trading Commission show investors increased bets on bigger losses, with the net-short position doubling in the week ended Jan. 6.

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Today Copper for delivery in three months slipped 0.4%to $6,068 a metric ton by 11:43 a.m. in London. The metal fell as oil declined, spurring speculation that mining costs will be lower.

 

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