Copper prices fall on concerns about the repercussions of the global energy crisis | latest news

Copper prices fall on concerns about the repercussions of the global energy crisis | latest news
Copper prices fall on concerns about the repercussions of the global energy crisis | latest news

Copper prices fell on Tuesday as sharp increases in energy costs raised concerns about the sustainability of the global economic recovery, but signs of a shortfall in the metal’s supply limited losses.

Benchmark copper contracts on the London Metal Exchange fell 1.26% to $9422.50 a ton in late trading, reversing three sessions of gains.

The prices of the red metal had recorded a record high of ten thousand and 747.50 dollars in May, before the economic recovery began to falter in the world.

But analysts at JPMorgan said logistical bottlenecks helped push copper stocks to “historically low levels” in areas that use the metal, which could push prices higher in the short term.

Among other industrial metals, aluminum contracts fell 0.33% to 3054.00 dollars per ton, while nickel contracts fell 0.9% to 18 thousand and 945 dollars per ton.

Source

Copper prices fall concerns repercussions global energy crisis latest news

 
For Latest Updates Follow us on Google News
 

PREV Shocking Opinion From Billionaire Partner Warren Buffett About Cryptocurrency
NEXT Watch: 110: 112 Dramatic for Brooklyn over the Knicks