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China demand angst, LME inventories weigh on copper
Copper was supported on Monday by expectations that the global interest rate tightening cycle is close to ending, but worries about demand in top consumer China and rising inventories in exchange warehouses weighed on sentiment. Benchmark copper on the London Metal Exchange (LME) was flat at $8,407 a metric ton at 1004 GMT. It has mostly traded in a narrow range over the past month. Five central banks, including the U.S. Federal Reserve, which is expected to leave interest rates on hold at Wednesday’s meeting, and the Bank of England are due to meet this week. Fears that China’s economy had yet to bottom were ... (full story)
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- Posted: Sep 18, 2023 10:45am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 82
