The market seemed to be disappointed with macroeconomic data from China over the weekend, building on what was deemed to be an unimpressive jobs report from the USA on Friday. The releases provided excuses to sell copper's rally. In terms of copper-specific news and data, the picture painted lately has actually been price-supportive. Supply disruptions are still making headlines, tightness continues to mount as exit queues at warehouses grow, and China's May imports numbers were good. Nevertheless, prices retreated and gave back all of the gains notched up since late May.
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