Copper Retreats 1 Percent on Fears Around Monetary Stimulus

Reuters reported that, despite upward pressure from force majeure being declared at Grasberg, copper slipped on Thursday over fears that central banks may be forced to curb monetary stimulus sooner than expected.

As quoted in the market report:

The market should be supported by the news on Grasberg and Oyu Tolgoi, but prices are still on retreat because there is a massive cutback on risk assets,and economy-sensitive industrial metals prices also come under pressure when the sentiment becomes gloomy,” Commerzbank analyst Eugen Weinberg said.

To view the whole Reuters report, click here.