Copper rally pauses as Chinese demand signal softens
Commerzbank notes the copper rally is pausing as a softer Chinese demand signal offsets falling LME inventories and trimmed output guidance from a major producer.
Commerzbank’s Barbara Lambrecht notes that the recent copper rally has lost momentum even though LME copper inventories are falling and a major producer has trimmed its output guidance.
The softer demand signal from China is now weighing on sentiment, pausing the upward move. The mix leaves the copper market balancing supportive supply-side news against weaker demand expectations.
Source: FXStreet Forex News