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Global Growth Worries Bring Copper Close to Three-week Low
Reuters reported that a poor demand outlook for industrial metals — caused by indications of weak global growth — brought copper to almost a three-week low.
Reuters reported that a poor demand outlook for industrial metals — caused by indications of weak global growth — brought copper to almost a three-week low.
As quoted in the market news:
Benchmark three-month copper on the London Metal Exchange (LME) closed at $8,119, from a close of $8,207 on Friday. It earlier fell to an intraday low at $8,107, its lowest level since Jan. 30.
Copper hit a four-month peak of $8,346 in early February but has since struggled to gain traction. Traders hope that China’s return to the market this week could help set a floor under prices.
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MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2334.93 | -19.64 | |
Silver | 27.87 | -0.30 | |
Copper | 4.27 | -0.01 | |
Oil | 86.30 | +0.09 | |
Heating Oil | 2.71 | +0.01 | |
Natural Gas | 1.86 | -0.03 |
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