Copper finds support

The London Metal Exchange copper price retreated on Monday December 30 after hitting a four-month high last week but positive global macroeconomic data checked any significant falls.

At 02:15 London time, three-month copper was down $13 per tonne from its opening to trade at $7,368 per tonne. The eurozone consumer confidence improved in December to -13.6, the best reading since July 2011 while the GfK consumer confidence in Germany reached 7.6 in January, the highest since August 2007....

Jiangxi Copper warns of deepening price pressures

Jiangxi Copper, China's largest copper smelter, warns copper faces more downside price pressure as it posted 52% YoY fall in interim profit due to lower prices of the metal.

Company said that with a new round of release of copper mining capacity globally and China's economic restructuring and slowdown, the copper market faces a change in demand and supply relationship."

Amid expectation that the United States will cut or end its bond buying program and continued economic weakness in Europe and Japan, copper price would be further pressured