Copper Slips on Inventory Build, But Weaker Dollar Offers Support

Copper prices took a slight hit on Thursday as more metal arrived in warehouses, but losses were tempered by a weaker dollar.

The benchmark three-month copper price on the London Metal Exchange dropped 0.4% to $13,988 a metric ton by 1025 GMT, after rising 0.5% in the previous session.

This decline follows copper's recent six-month peak on Monday, which was triggered by concerns over low inventories.

However, Ole Hansen, head of commodity strategy at Saxo Bank, noted that the U.S. Treasury's buyback announcement had helped stabilize the market and alleviate concerns about a stronger dollar.