Reported over 1 year ago
Copper prices are facing sustained pressure from weak demand in China, causing the metal to shed 14% since reaching a record high in May. Despite signs of a demand recovery, prices have continued to decline as downstream demand was negatively affected by the sharp rise in May. HSBC analysts are optimistic about copper demand in the second half, citing potential spending on China's power grid and a strong outlook for renewables, electric vehicles, and manufacturing.
Source: YAHOO