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Copper Gains As China’s Top Copper Smelters Proposal Of A 5-10% Production Cut.
Copper prices experienced a modest uptick of 0.21% yesterday, settling at 760.65, largely driven by China’s top copper smelters proposing a 5-10% production cut in response to tight raw material supplies. This move underscores concerns over the availability of copper, a crucial component in various industries. Despite ongoing challenges in Chinese manufacturing, including a projected sixth consecutive month of contraction in March, signs of a slower pace of decline indicate potential resilience in the face of economic headwinds.
