Copper Prices Plummet on Rate Hike Fears and Weak China Data

Copper prices have plummeted to their lowest level in nearly a month due to concerns over a potential US rate hike and weak Chinese economic data. The London Metal Exchange (LME) reported that copper inventories in its monitored warehouses showed a slight recovery, but this was not enough to offset the market's fears.

The LME data indicates that traders are increasingly anticipating a rate hike by the Federal Reserve, which has led to a decrease in investor appetite for riskier assets like copper. This has resulted in a significant decline in copper prices, with the metal trading at its lowest level since mid-August.