Copper prices have retreated to their lowest level since November.
On the London Metal Exchange, prices fell by 1.2 percent to trade at 7,586 dollars per ton.
Concerns regarding weakness in the global manufacturing sector, rising borrowing costs, and declining spending are expected to negatively impact the industry. In addition to these effects, the rise in copper inventories, which signals that supply is outpacing demand, has been a factor in the price decline in recent months. Tensions in China's real estate sector also pose a threat to the copper market.
At the macroeconomic level, rising interest rates and the strengthening dollar are making raw material prices more expensive for most buyers.
On the other hand, tensions in the Middle East are putting pressure on prices.
News Source: 12punto
