Copper Prices Dip Amid China’s Sluggish Recovery, Biggest Weekly Decline in Months

China’s Economic Challenges Weigh on Copper Prices, Prompting Significant Weekly Dip

[{"selector":"#anim-4c0f80ba-ac96-4df6-84b5-7b0cdd4b877d","keyframes":{"transform":["translate3d(117.48251%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f34f4c10-1e38-46d8-8669-d00eabf31ca4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e92c2d30-07de-4c45-9c55-a7ae0a11095f","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b68c4f6f-7618-4052-ba28-62627ac27b05","keyframes":{"transform":["translate3d(117.13286%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-657c85ca-2482-4247-a756-ddd36d2ec888","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1daf349b-6797-4626-bd87-c3750c258426","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Copper prices faced a substantial decline on Friday, signaling the largest weekly drop in three months, driven by indications of China’s lackluster post-pandemic recovery.

[{"selector":"#anim-cfa30abb-6755-47af-9515-a88b00346b8c","keyframes":{"transform":["translate3d(120.62936%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-64c89f72-7802-4303-870e-84543a2ad516","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aea02095-ea25-4bfb-b0ce-a60b38cfcd25","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Touching its lowest point since July 7 at $8,252, the metal seemed poised for a weekly plummet of 3.4%.

[{"selector":"#anim-053c0347-be0d-4934-9f87-5d5b93c851e4","keyframes":{"transform":["translate3d(119.58041%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-853cba6f-1d05-4b37-bb4a-4a5999c8b477","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b9ea7e1-f47d-4112-bdb3-c48a05fd5641","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] China’s recent data revealed a tumble in new bank loans, with annual growth of outstanding total social financing (TSF) slowing to 8.9%.

[{"selector":"#anim-64f43182-6ee5-4148-bbcd-bff722740f99","keyframes":{"transform":["translate3d(120.62936%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f23895af-e9b7-429b-85b6-7977a9d42585","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-28145f88-c867-4afc-85d0-b16a85f949bf","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Concerns extend to the property sector as well, with speculation about debt restructuring by Country Garden, China’s premier private property developer.

[{"selector":"#anim-3bb1e33d-7950-454c-8da6-94dd495d015d","keyframes":{"transform":["translate3d(119.58041%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-246ee0ee-ecd5-4387-ae09-222a3f7e3541","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e49bdd31-0207-4485-906d-49e014dbff7d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] LME-registered copper stocks have witnessed consecutive weeks of arrivals, resulting in the highest inventory since June 19 . According to LME daily data.