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What's Driving The Sell-Off in Copper?
Copper prices remain under heavy selling pressure through the middle of the weak with the futures market now down more than 5% from the week’s highs. The move comes amidst heightened concerns around global industrial activity after data this week showed weak manufacturing PMIs in both China and the US. In the US, the factory sector was seen slipping deeper into negative territory last month with construction spending also falling into negative levels. While US recession fears had receded over recent weeks, the data shows that there are still issues to be monitored, with copper prices falling accordingly. Chinese ... (full story)
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- Posted: Sep 4, 2024 6:38am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 140
