London Copper Prices Slip on Exchange Inventory Build

Copper prices slipped in London on Monday as exchange inventories continued to build. The LME three-month copper contract dipped by 0.40% to $14,159 a metric ton.

The recent surge in demand for nearby supply appears to be cooling, with the LME's cash premium narrowing. This is typically a sign that traders are moving metal into exchange warehouses to take advantage of higher prices for immediate delivery.

LME stocks have increased by 16% since August 14th, reaching 238,575 tons on August 20th. SHFE stocks also jumped 28.4% last week to 89,548 tons.