Copper prices ended sharply lower on Wednesday, on pace for their biggest monthly decline since June 2010, as weaker demand cues from China and fears about a moderation in the global economic recovery kept many bulls sidelined. US copper followed suit, extending a downtrend in place since mid-February before running into some technical support near its 100-day simple moving average. It settled down 7.25 cents at $4.2740 per lb.
Trading volumes began to perk up, with more than 47,000 lots traded by 2:24 pm EDT (1924 GMT). This was the first time volume topped 47,000 lots since March 17, according to preliminary Thomson Reuters data. In other metals, aluminium came within $2 of Tuesday's session peak at $2,656 per tonne, its highest since September 2008, before ending down $19 at $2,629.
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