10-Aug-2024

Weekly Copper Review: Copper struggles near five month low

COMEX Copper fell to a five month low amid continued uptick in LME Copper inventories and volatile equities. Worries over Chinese imports also weighed and the metal refused to hold on above $4 per pound. China's July imports of unwrought copper and copper products fell 2.9% on the year to 438,000 metric tons, data from the General Administration of Customs showed. For the first seven months, copper imports were up 5.4% at 3.2 million tons, the latest data showed.

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