Copper prices fell at the close of weekly trading, Friday, October 20, with the US dollar rising on the back of rising Treasury bond yields, although hopes for further stimulus in China, the world’s largest consumer, limited the decline.
Copper for three-month delivery on the London Metal Exchange fell 0.56%, to $7,949 per metric ton, by the end of the week’s trading, as the stronger dollar makes commodities priced in the US currency more expensive for buyers using other currencies.
ANZ Research said in a report that the recent weakness in prices raises concerns in the mining industry, despite strong expectations for the metal, amid rising investment in clean energy technology sectors.
2023-10-21 07:21:03
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