| 17 Jun 2024 17:00 | | Base Metals Preview: Copper Crashes To Three Week Low Amid China Economic Jitters | | | COMEX Copper futures fell sharply today, adding to recent losses. Copper currently trades at $4.42 per pound, down 1.60% on the day and testing around three week low. Equities fell in Asia and saw a mixed outing in Europe as Chinese economic worries weighed on sentiments. China’s industrial production growth decelerated to 5.6 percent in May from 6.7 percent in April, the National Bureau of Statistics reported. In the first five months of 2024, fixed asset investment increased 4.0 percent from the previous year, slower than the 4.2 percent rise posted in January to April period. These data pulled Copper lower after a modest rally last week took it near $4.60 per pound mark. | | Powered by Capital Market - Live News |
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