Copper tumbles as Trump victory sparks fear over slowdown in energy transition

From brecorder.com

Copper prices tumbled on Wednesday as victory for Republican Donald Trump in the U.S. presidential election spurred concerns that major electrification initiatives would be rolled back, dampening demand for the highly conductive metal. Three-month copper on the London Metal Exchange (LME) fell 2.3% to $9,518 per metric ton by 1111 GMT. It has dipped below the 21-day and 50-day moving average and is the worst performer of the base metals complex. The copper market is pricing in the long-term direction of Trump’s policies, a trader source said. Trump said he would “rescind all unspent funds” under the Inflation ... (full story)