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Copper prices slip as tepid demand, economic woes linger
London copper prices slipped on Friday, as demand concerns and a gloomy global economic outlook offset optimism from the US debt ceiling deal and a weaker dollar. Three-month copper on the London Metal Exchange was down 0.4% at $8,212.50 a tonne by 0139 GMT, reversing gains from the previous session. The contract was poised to close the week flat. Global copper prices are set to fall to $7,000 per tonne in the second half of this year, Chinese research firm Antaike predicted, as heightened risks of recession and a lack of solid demand growth in top consumer China weighed. The contract also faced a downside due to ... (full story)
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- Posted: Jun 2, 2023 2:48am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 110
