Copper prices declining on demand concerns

Copper prices were under pressure Monday morning, with London Metal Exchange (LME) three-month metal falling below the $10,000 per tonne level for the first time in a month.

Copper has spent the last few weeks hanging in suspended animation, the price too high for buyers to chase the market, supply too tight for sellers to risk shorting it.

The risk equilibrium appears to be shifting, however, with signs that funds are starting to raise bear bets on the CME copper contract .

Supply concerns haven’t gone away. Far from it.

Protests at two big copper mines in Peru knocked out a fifth of the country’s production capacity last week before the government imposed a state of emergency to regain control of the Cuajone mine.

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