Copper set for steepest monthly fall in 3-1/2 yrs amid demand worries | Metals Mine

  • Copper set for steepest monthly fall in 3-1/2 yrs amid demand worries

    From reuters.com

    London copper eased on Friday and was on track for a third straight and biggest monthly fall in three-and-a-half years as global trade tensions raised concerns on weaker demand. Benchmark copper on the London Metal Exchange (LME) fell 0.2% to $5,839.50 a tonne at 0748 GMT, and was down 9% for the month of May, the strongest monthly decline since November 2015. The metal has fallen 10.3% in the past three months. U.S. President Donald Trump, responding to a surge of illegal immigrants across the southern border, vowed on Thursday to impose a tariff on all goods coming from Mexico, starting at 5% and ratcheting much ... (full story)

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EventsTrader
Jun 2, 2019 11:55pm
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The metal has fallen 10.3% in the past three months.
The majority of the decline taking place in the month of May. While there's still some downside risk, China's stimulus measures is making it tough to call a direction. It definitely looks like the momentum is favoring a move lower.
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