Copper Falls as Euro Zone Fears Persist

Reuters reported that copper rebounded but fears of a Greek debt crisis and the threat of a global recession continue.

The market news is quoted as saying:

Fears about the effect from a potential default by Greece, especially on the banking sector, as well as worries over a U.S. economic slowdown, have aroused fears of a repeat of the market turmoil that followed the collapse of Lehman Brothers in 2008.

“The leading indicators are worsening so the outlook for demand is worsening. We’ve seen lack of demand in Europe and the U.S. and we are likely to see lower demand growth in China. This is reflected in the prices but the question is to what extent,” said Eugen Weinberg, analyst at Commerzbank.