Copper slips on growth fears
Wednesday, 19 December 2018
MELBOURNE, Dec 18 (Reuters): London copper prices fell for a third straight session on Tuesday as concerns that global trade ructions would cool economic growth were compounded by signs of rising supply, but low inventory levels limited losses.
Growth concerns have been weighing on the industrial metals sector, including copper, ANZ analysts wrote in a note, adding that prices had been knocked by news that Vedanta Ltd was closer to being allowed to restart its 400,000 tonnes per year copper smelter in India.
"The market is focused on an upcoming economic policy meeting in China, with expectations of further stimulus to domestic growth," the bank added.