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Don’t get wrong-footed by the drop in the copper price
Copper futures dropped to the lowest level in two months this week to trade just under $7,690 a tonne on the LME and at $3.40 per pound on NYMEX. Fears of a global recession, the long-term impact of China’s Covid lockdowns, rising interest rates and aggressive central bank policies in both Europe and the US have dampened not only the current prices but also the outlook for the rest of this year. True, the current set of global economic circumstances offer slim chances of a quick recovery. The reading for China’s latest Manufacturing Purchasing Managers Index indicated the first contraction since May, falling ... (full story)
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- Posted: Sep 23, 2022 11:42am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 50
