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Fading hopes of a US-Iran peace deal push copper lower
Copper prices fell on Friday, with risk sentiment in growth-dependent metals affected by renewed worries about inflation as hopes for a U.S.-Iran peace deal dim. Benchmark three-month copper on the London Metal Exchange was down 1.1% at $13,771.50 a metric ton at 0953 GMT, finding support above its 21-day moving average, currently at $13,728. Copper, used in power and construction, is up 11% so far this year, having hit a record high of $14,527.5 in January. Analysts at several investment banks upgraded their price forecasts this week, with Citi expecting $15,000 within six to 12 months. “High prices will ... (full story)
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- Jun 5, 9:18am | 4 hr ago Posted byFundamental Analysis63
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