MT: Copper firmer in pre-market, but China may not buy
Copper prices were firmer in pre-market trading on the London Metal Exchange on Tuesday, but market participants said that Chinese buyers are unwilling to pay record prices for the red metal. Three-month copper was trading at $9,409.75 per tonne at 09:48 GMT, up nearly $50 from its opening price, with a stronger euro providing support for another upward charge towards $9,500, where copper has met resistance twice. The red metal will struggle to break above this key level because Chinese buyers will refuse to make purchases at record levels and will be seeking to push prices back to $9,000 per tonne, a category I trader told...
