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Bucking recent trends, copper experienced a price rebound on Wednesday, rising from three-and-a-half-month lows.
Bucking recent trends, copper experienced a price rebound on Wednesday, rising from three-and-a-half-month lows. Reuters reported that copper on the London Metal Exchange (LME) gained 0.7 percent or $75 to trade at $6,712 a tonne.
However, the news source was quick to point out that copper still remains vulnerable to market trends affecting other metals, including the strong U.S. dollar and concerns surrounding demand from China.
“The main focus for the remainder of the year will clearly be on the demand outlook and development in the Chinese economy,” Commerzbank Analyst Daniel Briesemann told Reuters.
Meanwhile, copper on New York’s Comex for December delivery stayed relatively flat at $3.01 per pound, according to MarketWatch.
