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In light of preliminary prints from CME Group, open interest and volume went up by around 7.6K contracts and more than 3K contracts, respectively, on Thursday.

Copper: Strong support lies at 2.50

The massive sell-off in the futures of the base metal appears to have further legs to go amidst rising open interest and volume. That said, a probable move to 2.50 in the short-term should remain well on the cards, although the current oversold levels could favour a bounce off recent lows.