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Copper Dropped Amid Looming Concerns Over The Strength Of The Chinese Economy.
Copper prices experienced a decline of -0.37% yesterday, settling at 753.6 rupees, as concerns surrounding the strength of the Chinese economy and its debt-laden property sector resurfaced among investors. Despite an unexpected acceleration in China’s industrial production in February, worries persisted regarding the demand for manufactured goods and new homes, dampening expectations for commodity buying in the country. This sentiment was underscored by a significant 20% surge in Chinese deliverable copper inventories during the week ending March 15th, indicating substantial seasonal restocking activities and aligned with a recent decline in the Yanghsan copper premium.
