Copper Prices Fell As Investors Locked In Profits From The Metal’s Recent Rally.
Copper experienced a decline of -1.21% yesterday, settling at 756.4, as investors took profits following the metal’s recent rally and amidst a strengthening dollar ahead of the U.S. Federal Reserve’s rate decision. Speculators on the Comex raised their long positions to the highest level in over 13 months by March 12, becoming net long, as per data from the U.S. Commodity Futures Trading Commission. In addition to profit-taking, concerns over copper inventory levels and consumption in China weighed on sentiment.
