Copper Prices Near Record Highs Amidst China Slowdown

Copper prices have surged in July and are currently testing record highs near $6.70. Despite weak property and factory data from China, tight supply and strong export demand are supporting the market.

Tight supply and low inventories are contributing to the bullish outlook for copper. A break above $6.70 could pave the way for prices to reach $8 or higher.

The slowdown in China's property and factory sectors has raised concerns about weak demand for copper. However, the impact on copper prices is being offset by tight supply and strong export demand.