Copper Prices Slide to Five-Week Low Amid Fed’s Hawkish Signals

Copper prices face a slump as the Fed signals prolonged strict policies, and the dollar gains strength, impacting the metal market.

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The discount for near-term delivery versus the three-month copper contract increased, indicating a surplus of immediate supply.

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China’s property market dynamics continue to be a concern, affecting the financial health of property developers and consequently influencing copper prices.

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Furthermore, rising copper inventories in LME-registered warehouses reached their highest levels since May 2022.

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Output plummeted by 14% in the first half of the year. Following a 7% decrease from the previous year, amplifying concerns in the copper market.

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