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Copper Dips on Slumping Growth, Capped by Supply Outlook

From earnforex.com

Copper futures are sliding on Tuesday on slumping economic growth in key markets, including China and the eurozone. But the dip was capped by several bullish supply outlooks that suggest a market deficit could lead to a breakout in copper prices in the coming months. The red metal has had a strong start to 2019, despite the paucity of labor disruptions and significant growth. May copper futures tumbled $0.0075, or 0.26%, to $2.89 per pound at 17:26 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. Year-to-date, the industrial metal has surged more than 9%, but prices are still trying to leap ... (full story)

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  • Category: Fundamental Analysis