Copper rebounds as inventories, stock markets stabilise

Copper recovered 0.8% to $14,190 a metric ton on the London Metal Exchange by 1000 GMT on Friday, Business Recorder reported. The move followed a 1.9% drop in the prior session, when the metal reached a five-week low, as global equity markets steadied and growth in LME inventories slowed.

Easing pressure on technology shares helped support metals, although traders remained alert to the possibility of another decline if copper slipped beneath the September level of $13,925. LME stocks increased by 800 metric tons on Friday after rising by a fifth over the previous week to 273,750 tons, while inventories at Shanghai Futures Exchange-registered warehouses fell 26.5%. Concerns persisted over large US copper holdings and the possibility of tariffs. Elsewhere, nickel fell 1.8% to $15,825 a ton, while aluminum lost 0.1%, zinc added 1.1%, lead was little changed and tin rose 1.3%.