Commodity News
HeadLine : Copper price down amid demand outlook worries
Date : Oct 7 2021
The copper price fell on Wednesday on signs the global growth outlook is worsening. Investors are bracing for a slower but still robust economic recovery from the pandemic and gradual monetary-policy tightening, as inflation concerns take hold. Copper for delivery in December fell 1.2% from Tuesday’s settlement price, touching $4.141 per pound ($9,110 per tonne). Worries over the demand outlook have so far centered largely on China, where manufacturers are facing a power crunch, but signs of a slowdown are emerging in Europe too. Germany’s factory orders slumped 7.7% in August, in the third-biggest drop in the past 30 years, official data showed. Surging gas prices also continue to heap pressure on industrial firms throughout Europe. 

Source: Mining
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