Copper Consolidates Above $14,000 Amid Easing Congo Export Concerns

Copper prices consolidated above $14,000 on Monday after posting their strongest weekly gain since May. The price increase came as concerns about the Democratic Republic of Congo's copper concentrate export ban eased and physical indicators in top consumer China softened.

The London Metal Exchange saw benchmark three-month copper rise 0.1% to $14,089.50 a tonne, while the most-active copper contract on the Shanghai Futures Exchange slipped 0.35% to 107,640 yuan ($15,956.12) a tonne.

Goldman Sachs stated that it expected no material impact on global copper balances from Congo's ban, saying the measure largely consolidated a long-standing policy and affected trade flows that had already shrunk sharply.