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Focus on poor demand prospects weighs on copper

From brecorder.com

Copper prices slipped on Monday as the market focused on poor demand prospects, particularly in top consumer China, while outflows from London Metal Exchange (LME) warehouses and a softer dollar provided support. Benchmark copper on the LME was down 0.2% at $8,338 a metric ton by 1053 GMT. Traders said activity is subdued and is likely to remain so until after the Chinese Lunar New Year holiday in February. China’s troubled property sector and a slowdown in manufacturing around the world has hit prices of copper and other industrial metals over the past year. “China’s property market has weakened at a rate we haven’t ... (full story)

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  • Category: Fundamental Analysis