US Shutdown Weighs on Copper

- October 3rd, 2013

Bloomberg reported that the copper prices have declined for the third straight session as the US government failed to reach a decision about the budget and remained shutdown.

Bloomberg reported that the copper prices have declined for the third straight session as the US government failed to reach a decision about the budget and remained shutdown.

According to Bloomberg:

The impasse raises the prospect of a prolonged standoff over the budget and talks to raise the U.S. debt limit. Failure to increase the government’s $16.7 trillion debt limit by Oct. 17 could trigger a default, President Barack Obama’s administration has said. The U.S. is the world’s biggest metals consumer after China.

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