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Copper down on higher stocks, concerns about demand in China

From brecorder.com

Copper prices fell in London on Friday after data showed higher inventories in exchange-registered warehouses, though a weaker dollar, focused on upcoming crucial U.S. data, limited the decline. Three-month copper on the London Metal Exchange was down 0.2% at $8,129 per metric ton by 1059 GMT. The metal, used in power and construction, is down 2.8% so far this year due to patchy post-pandemic recovery of demand in China, the world’s largest metals consumer. “Disappointing manufacturing PMI data from China (released earlier this week) have set lower expectations for the base metals complex,” said Nitesh Shah, ... (full story)

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  • Category: Fundamental Analysis