Copper Consolidates Above $14,000 After Strongest Weekly Gain Since May

Copper has consolidated above $14,000 on Monday after its strongest weekly gain since May. Concerns over the Democratic Republic of Congo's copper concentrate export ban have eased, and some physical indicators in top consumer China are softening.

The benchmark three-month copper price on the London Metal Exchange edged 0.1% higher to $14,089.50 a ton as of 0240 GMT. The most-active copper contract on the Shanghai Futures Exchange slipped 0.35% to 107,640 yuan ($15,956.12) a ton.

Goldman Sachs said it expects no material impact on global copper balances from Congo's ban, stating that the measure largely consolidates a long-standing policy and affects trade flows that have already shrunk sharply.