17.06.2015 - ‘Glass half empty’ in base metals
Copper hit a new three-month low overnight and analysts don’t see near-term catalysts for the red metal. London Metal Exchange copper dropped 1.8% overnight to $US5784 per tonne, its lowest point since March. According to ANZ Research, there has been some improvement in Chinese macro conditions in the past month, but signals were still mixed. Copper slumped to a five-year low in January, but has recovered due to supply interruptions. “However, a lack of subsequent indications of strong demand has seen the rally in copper prices peter out over the past month,” ANZ said...............................................Full Article: Source
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