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Copper breaks four sessions of gains on firmer dollar and China worries
Copper slipped on Wednesday, breaking four sessions of gains, weighed down by a stronger dollar, rising inventories and concern about demand in top metals consumer China. The benchmark three-month contract on the London Metal Exchange was down 0.5% at $9,790.50 a metric ton by 0940 GMT, having hit a two-week peak of $9,862 on Tuesday. LME copper has climbed by 11% this year, rebounding from a more than 16-month low of $8,105 in early April. “Chinese demand is showing signs of slowing, with headwinds for the economy including tariffs and the ailing property sector,” said ING commodities strategist Ewa Manthey. ... (full story)
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