Copper’s momentum slows

摘要

Copper prices have come under pressure in the past month due to looser fundamentals in key markets and a challenging macroeconomic background. While LME 3M copper prices traded in a relatively narrow range around the $8,900 /t level in the first three weeks of the month, they fell sharply in recent days reaching $8,488 /t on 27 April, a level not seen since early January. At the time of writing, prices have rebounded to ~$8,600 /t in intraday trading.