Falling copper price in particular are viewed as a sign of what may be in store for the economy.
Commodity prices have tumbled over the past month, signaling underlying weakness in the global economy despite the U.S. stock market bouncing back from recession fears. The U.S. stock market recovered most of its losses last week in the wake of a steep selloff triggered by weak labor and manufacturing data. Investors have sought to look past recession fears, with some analysts arguing that U.S. economic fundamentals remain on a solid footing.
on Monday lowered its global oil demand growth forecast this year by 135,000 barrels per day as expectations in China have softened. "Both energy markets and base metal markets and copper do reflect a slower economic environment where there is likely to be less demand growth that reduces the risk of undersupply conditions," Melek said. At the same time China's economy is sputtering, the U.S.
Energy Markets Invesco DB Base Metals Fund Copper (Mar'23) WTI Crude (Mar'23) Economic Events United States China Business News
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