Copper extends recovery as global recession fears abate

Copper extends recovery as global recession fears abate

From brecorder.com

Copper extended its rebound on Friday as fears of a global recession eased and investors focused on low inventories and threats to supply. Three-month copper on the London Metal Exchange (LME) climbed 1.4% to $7,839 a tonne in official open-outcry trading, building on the previous session’s 0.7% gain. Copper has recovered from three days of losses prompted by weak global factory data and flaring U.S.-China tensions after U.S. House of Representatives Speaker Nancy Pelosi’s visit to Taiwan. The metal used in power and construction has shed 28% since touching a record peak of $10,845 in March. “To produce a crash ... (full story)

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