A reduced amount of warehouse inventory and a strong external market supported a rise in copper.  Cause for concern would include a lack of Chinese presence in the market and fewer signs of supply issues.  However, Peru may cause a disruption to supply as early as Monday, June 30.

Copper may find renewed supply-side support from Peruvian miner plan to move ahead with a “national, indefinite strike” on Monday, June 30 – Luis Castillo, head of the country’s leading federation of mining unions.

 Copper’s inability to breach key resistance at $3.86 for the second straight day suggests market may be due for a near-term profit-taking pull-back – trader.

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