ueblvjun1102

 lme copper Indian copper futures gave up early gains and eased on Tuesday after rising inventories dampened sentiment, analysts said. At 4.50 p.m., the benchmark June copper MCCM8 on the Multi Commodity Exchange of India (MCX) was down 0.39 percent at 344.25 rupees per kg. Copper inventories on the London Metal Exchange were up 1,500 tonnes to 123,550 tonnes on Tuesday. "Rising inventories pushed down copper after it gained in the morning but it should rise again because the outlook continues to be strong," said an analyst from Motilal Oswal Commodities Broker Pvt Ltd. Prices found support earlier after China reported a 25.6 percent surge in urban investment in the first five months of the year which indicated a positive demand outlook for metals. Copper prices also found support from falling Chinese imports. China is importing less copper, despite domestic demand, and expectations are that the local shortage will push traders to buy the metal over, supporting prices China's imports of unwrought copper fell 25 percent in May from April. Prices also rose on fresh supply concerns from Peru, where protestors blocked a mine belonging to Southern Copper (PCU.N: Quote, Profile, Research) (SPC.LM: Quote, Profile, Research), the country's largest copper producer [nN16263028].