Copper prices experienced an upward trend on Monday following a decline the previous week. The demand for copper, especially from China, which is one of the largest consumers of the metal, remained strong, providing some support to the market. However, sentiment was also influenced by concerns over potential interest rate hikes by the U.S. Federal Reserve, which caused some apprehension among investors.
The resilient demand from China has been a significant factor in supporting copper prices and preventing a more significant decline. China’s strong industrial activity and infrastructure projects have contributed to this demand, despite the ongoing uncertainties in the global economy. On the other hand, worries over potential interest rate hikes by the U.S. Federal Reserve have created some uncertainty and weighed on market sentiment. Investors are closely monitoring any indications from the central bank regarding its monetary policy, as any unexpected rate hikes could have a significant impact on copper prices and the overall market.
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