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Copper edges lower as banking troubles threaten demand

From brecorder.com

Copper prices fell on Monday as investors worried that turmoil in the banking sector would restrict economic growth and metals demand. Benchmark copper on the London Metal Exchange (LME) was down 0.5% at $8,874 a tonne by 1040 GMT. Prices of the metal used in electrical wiring have drifted from a seven-month high of $9,550.50 in January but remain well above last year’s low of $6,955, with many analysts expecting a rally above $10,000 this year. Demand in China, the biggest consumer, is rising, but bank failures have raised the threat of a credit crunch. “Our base-case forecast for base metals this year embeds a ... (full story)

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  • Category: Fundamental Analysis