Global Economic Uncertainty Maintaining Downward Pressure on Copper: GFMS Copper Survey

Mining Weekly reported that copper prices dropped by almost 10 percent during 2012 and has been moving sideways since Q4 2011, according to the Thomson Reuters GFMS Copper Survey 2013.

As quoted in the market report:

Thomson Reuters GFMS Base Metals Research and Forecasts head Sanjay Saraf said that continued uncertainty surrounding the eurozone had recently been exacerbated by the eruption of the Cypriot debt and banking crisis, which had, together with ongoing caution regarding the economic outlook for both the US and China, kept sentiment in the copper, and the broader commodities market, on the back foot.

To view the whole Mining Weekly report, click here.