Commodities
Copper Prices Sink Amid China Demand Concerns and Higher Energy Costs
Copper prices have fallen by 2% this week, despite a slight rise on Friday. The metal's demand outlook has been affected by weaker industrial activity in China and higher energy costs.
The price of copper rose 0.5% to $14,313.50 a tonne on the London Metal Exchange as of 11:58 a.m. Singapore time on Friday, but still remained about 2% lower for the week. This is the sharpest weekly decline since May.
The weaker industrial activity in China has emerged as a pressure point for copper demand. Higher oil prices after the latest developments in the US-Iran war have added another challenge for the metal in recent sessions.