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In light of Friday’s advanced figures from CME Group, open interest and volume shrunk by nearly 7.9K contracts and almost 20.9K contracts, respectively.

Copper now looks to 2.62

The base metal continues to lose ground at the beginning of the week and is now targeting the December low in the boundaries of the 2.62 level. However, the environment of declining open interest and volume seen on Friday prompts the idea that a rebound in prices could be gathering steam behind scenes.