Asian copper prices fell in early trading. Prices may face resistance at the $11,000 level.

Copper prices fell during the Asian trading session, with the three-month copper futures contract on the London Metal Exchange dropping by 0.4% to $10,896.50 per ton. Analysts at Sucden Financial reported that copper prices are likely to face strong resistance at the $11,000 per ton level. Although the copper market is still in a fundamental shortage based on refined copper supply and demand balance, the market may need new supply disruptions or clear demand catalysts to continue pushing the metal's price higher. They added that in the absence of such driving factors, any speculative rally could quickly fade as profit-taking emerges.