Copper Slips as Rising Stockpiles Put Focus Back on Soft Demand

Copper fell after its biggest one-day advance in more than three years, with investors shifting their focus back to the outlook for Chinese demand after a wild ride for the key industrial metal.

Prices settled 3.2% lower, after surging 4.6% on Tuesday for the biggest gain since November 2022. Base and precious metals have faced extreme volatility this year, with gold and silver rallying on Wednesday after a steep drop earlier in the week as investors rapidly unwound bullish bets.