Reported 5 months ago
Copper prices stabilized after experiencing the largest drop in nearly two years, as Chinese factories resisted buying at record high prices and Federal Reserve officials expressed concerns about inflation. After reaching an all-time high above $11,000 per ton, the metal saw a 4.1% decline amid profit-taking and weaker demand in China. Factors such as struggling factories passing on higher costs and the Fed's cautious approach to inflation may impact global economic growth, despite expectations of tightened supplies and continued high prices for copper in the near future.
Source: YAHOO