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Copper on the London Metal Exchange fell 0.5 percent to $5,950 a tonne, as noted by Reuters. The dip follows a previous session of four-week highs as demand from China showed signs of easing. The slowing demand points to signs of potential decreases in the rate of construction.
Copper on the London Metal Exchange fell 0.5 percent to $5,950 a tonne, as noted by Reuters. The dip follows a previous session of four-week highs as demand from China showed signs of easing. The slowing demand points to signs of potential decreases in the rate of construction.
Since China is the largest importer and producer of copper, analyst Lachlan Shaw of UBS in Melbourne noted that a dip in Chinese construction could lead to lower commodity demand.
“It does give us a little bit more comfort in terms of infrastructure spending lifting this year, but … it won’t allay a retrenchment under way in property construction,” Shaw said.
Copper on the Comex dipped 1.08 percent to trade at $2.70 a pound, as noted by MarketWatch.
