Copper Prices Experience 1.1% Decline as Global Growth Concerns Counter Demand Optimism

Copper prices on the London Metal Exchange (LME) faced a 1.1% dip, commencing at $8388 per metric ton and closing at $8361 per metric ton in the latest session.

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Market Reacts to Interest Rates and China’s Consumption Patterns

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This pullback can be attributed, in part, to an inability to breach the 100-day moving average resistance level at $8,469, a crucial technical threshold that traders monitor for directional cues.

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Additionally, the news reflects on the divergence in copper prices across various regions in China. And the consequent implications for inventories.

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In light of these developments, stakeholders continue to monitor the shifting copper landscape. Seeking guidance from both market trends and key macroeconomic indicators.

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