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Copper Selling Deepens - What to Watch
Copper prices are seeing heavy selling pressure on Tuesday as traders digest the latest briefing from the Chinese National Developments and Reform Commission. Traders had been eyeing fresh stimulus measures to be announced. However, with no additional program outlined at this time, copper traders reacted with clear disappointment, fuelling a more than 2% drop, as of writing. The futures market is now down around 7% from last week’s highs with price looking vulnerable to further losses near-term. Alongside developments in China, copper prices are also softening as a result of a less dovish Fed outlook. An unexpected ... (full story)
