Copper rises cautiously but still pressured by weak demand
Economies.com
2022-05-26 14:47PM UTC
Copper prices rose on Thursday, however slightly amid concerns about weak global demand for minerals.
China
China is the world's largest metals and commodities consumer, and any issues in China impact the whole market.
That was clear in fears about slowing Chinese demand after locking up major cities such as Shanghai to control a Covid 19 wave.
China is loosening restrictions in June, which might support demand, however analysts still expect a serious slowdown in growth this year.
The dollar index fell 0.1% to 14:35 GMT to 101.9, with a session-high at 102.2.
Copper futures due in July rose 0.1% to $4.25 a pound as of 14:29 GMT.
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