Copper Futures: Upside remains capped

Traders added just 584 contracts to their open interest positions in Copper futures markets on Wednesday, according to preliminary figures from CME Group. Volume, on the other hand, dropped for the third session in a row, this time by around 42.5K contracts.

Copper: Extra gains lie above 2.6250

Prices of futures of the base metal charted an inconclusive session on Wednesday amidst a small uptick in open interest and persistent decline in volume. That said, further consolidation is still likely for the time being, while the 2.6250 level remains a strong hurdle for bulls.