Despite putting up a good show in Asian trading hours,
copper didn't find the same support from
the buyers in LME and COMEX sessions.
During Asian hours the metal had touched $7,900. However, a build-up of 300 tonne in LME
warehouses amid no fresh cancellations
slowed down the advance of the metal,
prompting the traders to sell and book profits as they considered the prices to be somewhat exaggerated.
The metal lost $227 in the day from its
high of $7,927 to close with a small gain
of $25 at $7,730 on LME and $3.5420 on
COMEX.