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Open interest and volume shrunk by around 5.5K contracts and nearly 23K contracts, respectively, on Tuesday according to advanced figures from CME Group.

Copper could attempt a bounce in the near-term

Prices of the futures of the base metal have been losing ground uninterruptedly since January 15th. Tuesday’s price action, however, was amidst diminishing open interest and volume, all indicative that a rebound could be shaping up in the short-term.