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Copper pulls back from record on concern about physical demand

From zawya.com

Copper prices hit a record on Wednesday on persistent demand from speculative funds, but some investors were wary that the high prices would deter buying by industrial users. Benchmark three-month ​copper on the London Metal Exchange slipped 0.1% to $13,176.50 per metric ton by 1030 GMT, after touching a ⁠record of $13,407. LME copper has gained 44% over the past 12 months, buoyed by disruptions at mines, worries about ⁠deficits this year and a flow of metal to the U.S. ahead of potential tariffs that are tightening supply elsewhere. "With all these concerns about debasement, financial risks and Fed independence, ... (full story)

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  • Category: Fundamental Analysis