The price of copper experienced a slight decline on Thursday due to an increase in inventory in London. However, this decrease was offset by the weakening of the U.S. dollar and the anticipation of further economic stimulus measures in China, which is the largest consumer of copper in the world. The rising inventory levels in London put pressure on copper prices, indicating a potential oversupply in the market. Nevertheless, the downward impact was limited by the weakening U.S. dollar, which tends to make commodities priced in dollars more attractive to international investors. Additionally, the expectation of more stimulus in China helped to support copper prices, as increased infrastructure spending in the country would boost demand for the metal.
#CopperPrices #LondonInventory #USDollar #ChinaStimulus #CommodityMarket #Oversupply #InternationalInvestors #InfrastructureDemand
Image: https://weeklyfinancenews.online/wp-content/uploads/2023/08/china3.jpeg
Comments are closed.