Can't hold copper down...............
Copper futures traded above $4.4 per pound, having touched a 6-week low on November 17th, buoyed by dwindling inventories in the LME and prospects of higher demand amid signs of an improvement in China’s real estate sector following regulators’ measures to ease pressure on property developers. The spread between spot and three-month contracts on the London Metal Exchange rose to a 3-month high of $120 per tonne, indicating tightening nearby supplies. Still, miners are ramping up with the Kamoa-Kakula project in the Democratic Republic of Congo producing 41,545 tonnes of copper concentrate in the third quarter. Meanwhile, markets await the elections in Chile, the second-largest producer of copper.