The copper price has fallen as the fund reduces its bullish bets.

The price of copper fell in early trading, with copper futures on the London Metal Exchange dropping by 0.7% to $12,999 per ton. Analysts at Sucden Financial said that the base metal has a strong inverse relationship with oil prices, and recent data shows that investment funds have significantly reduced their bullish bets. These analysts said, "We expect copper prices to continue to be highly sensitive to the energy market. If oil prices continue to fluctuate, the metal may retest support near $13,000 per ton."