Reuters reported that copper was steadier and aluminium fell to its lowest in more than a month on Wednesday fuelling concerns about the continued demand offset fresh hopes for pro-growth policies from top metals consumer China.
As quoted in the market news:
Copper demand is surprisingly low this year and I expect copper to move sideways in the short term but there will likely be a jump in China’s copper imports at the beginning of the next year, before new projects and stimulus measures are approved by the new government.
I believe that China will come back next year and many will be surprised to see how much it will drive demand for all metals due to new economic measures and infrastructure plans.
Get Our Expert Guide to Copper Investing FREE!Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.