Copper extends losses towards $4.00 on growth fears, news from Peru By anilpanchal7 Copper RiskAppetite Commodities Fed China
h contract of copper on the London Metal Exchange also dropped below $9,500 by nearly 1.0% at the latest. In doing so, the red metal takes clues from firmer USD and fears of global growth, as well as chatters surrounding more production, heading into Wednesday’s European session.
Adding to the price-negative catalysts were the latest headlines suggesting a solution to protests at Peru’s Las Bambas copper mine. “The leader of a Peruvian indigenous community, whose protest led MMG's Las Bambas copper mine to suspend operations over a month ago, said on Tuesday that "progress" has been made toward a solution to the crisis,” said Reuters. rises 0.27% intraday while bouncing off a four-week low to regain the 102.00 threshold.
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