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Copper Hits Lowest Level Since 2017-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
9/9/2019 - Copper exhibition -non-ferrous metals expo |
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Financial Times reported that price of copper has fallen to its lowest level since mid 2017 on the back of a firmer US dollar and the ongoing US-China trade spat. Due to its wide range of uses in construction and industry, copper is viewed as a bellwether for the global economy. As such, selling copper is the default mechanism for investors who have bearish views on growth and China, the world’s biggest consumer of the metal.
Copper for delivery in three months fell as much as 1.8% to USD 5,518 a tonne on Tuesday, before recovering to USD 5,614. It has fallen 14% since late April.
A stronger US dollar, which makes commodities more expensive for buyers using other currencies, is one factor weighing on copper. The US dollar index hit fresh highs last week and is close to the 100 mark. Another is concern about the impact of the US-China trade spat on the global economy and China, where some economists expect growth to slow'' to less than 6 per cent later this year.
Chinese and US officials are reportedly struggling to set a timetable for further trade talks this month.
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
-Non-Ferrous Metal exhibition, 2020
Non-Ferrous Metal exhibition, Non-Ferrous Metal expo, 2020 Non-Ferrous Metal
expo, Copper exhibition, Copper expo, 2020 Copper exhibition, 2020 Copper expo,
China Copper exhibition, China Copper expo
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