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Copper falls as tech valuation fears spread
Benchmark three-month copper on the London Metal Exchange was down 0.8percent at USD10,690 per metric ton in official open outcry trading. The metal, expected to benefit from the artificial intelligence boom, earlier fell as much as 1.1percent to USD10,660.50, its lowest since November 5. Copper is now down around 4.5 percent from the all-time peak of USD11,200 struck on October 29 on concerns over mine supply. But one trader attributed its recent decline to a “correction” rather than to the AI bubble bursting. Separately, copper miner Freeport-McMoRan said it plans to restore large-scale production at its ... (full story)
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