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Copper Pares Losses as Signs of Dip-Buying Emerge in China

From beemarkets.com

Copper clawed back some losses after a heavy sell-off in Asian trading hours amid signs that buyers in China who’ve been put off by high prices are dipping back into the market. Contracts were down about 2% on the London Metal Exchange after earlier dropping as much as 5.7% to $12,414.50 a ton. Other base metals also posted big losses, with tin falling as much as 11% and nickel dropping 8.1%. Copper surged to records along with other metals last month as bullish Chinese investors piled into commodities amid doubts about the dollar and a shift away from currencies and sovereign bonds. But manufacturers in the country ... (full story)

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  • Category: Fundamental Analysis