Copper traded higher on Tuesday as stocks in London Metal Exchange warehouses fell and if the trend persisted it could spark prices to go higher, analysts said.
"If that were to continue... more downs than ups in visible stocks, then there would be one or two shorts around that might give us a base in these markets as they unwind their positions," chief investment strategist Sean Corrigan at Diapason Commodities Management said.
Copper for delivery in three months was up $60 or 1.1 percent at $5,400/5,410 a tonne by 1049 GMT.
Copper stocks in LME-monitored warehouses fell for the second consecutive day to 212,575 tonnes, but stocks have doubled in the past 12 months and are over eight times greater than their July 2005 low.
Read full article at Reuters South Africa
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