LME three-month copper slipped 0.3% in European trade to $14,685/tonne from a
prior close of $14,728/tonne, staying close to record highs after several days
of gains. Prices are being supported by US potential tariff concerns and supply
challenges at major global mines. Sucden Financial says copper needs to hold
$14,600/tonne to maintain the breakout, warning a break below could prompt a
larger pullback given the recent run-up. A narrowing near-month vs three-month
spread indicates near-term supply tightness is easing despite benchmark prices
near historical peaks.
