Copper’s slump has also coincided with a sharp decline in manufacturing activity in major industrial economies.
A measure of US factory activity contracted in September, while manufacturing mainly worsened across Asia.
There’s also been a steady expansion of LME inventories. Above-ground stockpiles have been severely constrained in recent years and remain at historically low levels, but the increase is a sign that supply is now starting to run ahead of demand in the spot market. Copper declined 0.3% to $8,032 a ton on the LME as of 3:12 p.m. local time after dropping as much as 1.2% earlier. Chinese markets are closed for the Golden Week holidays.Panama to withdraw proposed contract for First QuantumMajor construction works will begin after the rainy season which is about to start, and will take three years to complete.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Firm dollar and rising inventories send copper prices below $8,000Inventories of copper in LME-registered warehouses have surged 141% in the past three months.
Read more »
China's demand for oil and copper is ‘booming,' says Goldman SachsChina’s demand for major commodities like oil, copper and iron ore has been growing at “robust rates,” Goldman Sachs said.
Read more »
Goldman Sachs says China's demand for oil and copper is 'booming'China's demand for major commodities like oil, copper and iron ore has been growing at 'robust rates,' Goldman Sachs said.
Read more »
Suspected copper thief hit, killed on 55 Freeway in TustinPolice say that the man had been stealing copper wire from a nearby building and ran onto the freeway to avoid them. He was hit and killed by a car traveling northbound.
Read more »
Alleged copper thief hit by car while crossing freeway in TustinPolice said the man was running from them after stealing copper from a building, when he ran onto the freeway and was hit by a car.
Read more »