LME three-month copper fell 0.3% to $14,578/ton in European morning, retreating
from near-record highs as a stronger dollar, oil volatility and expectations of
a hawkish Fed prompted profit-taking and reduced appetite for new longs. Sucden
Financial said China’s upcoming holiday could lower market participation and
further tighten liquidity, especially overnight. ANZ highlighted supply risk
after workers at Chile’s Escondida, the world’s largest copper mine, called for
strike action after rejecting a wage proposal. Uncertainty over potential U.S.
tariffs and tighter sulfur supply in the Gulf also continue to support prices.
