London copper set for biggest monthly fall since May 2023

Quick Summary:

"Markets have shifted their view to the reality of the fundamentals, and the reality is that demand is weak, especially in China.

Meanwhile, if we look to ex-China, the health of manufacturing remains clouded, US is performing better, but Europe remains in manufacturing recession," said StoneX analyst Natalie Scott-Gray.

"I think we will see copper average around US$9,500 per tonne for the year, but prices will likely go above US$10,500 by year-end, when I suspect we have the first US rate cut".

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Article Details

Category: InvestingFinance

Markets: MalaysiaChina

Topics: Monthly Exchange Prices Rose Economic Us$2 Tonne Yuan China Copper London

Source Website Secure: No (HTTP)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 03:46:33 (5 days ago)

News Timezone: GMT +8:00

News Source URL: theedgemarkets.com

Language: English

Article Length: 363 words

Reading Time: 3 minutes read

Sentences: 11 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © The Edge Markets

News ID: 21412252

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