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Copper prices fall on China's data
Copper prices declined during Wednesday’s trading session due to the release of economic data from China that came in below expectations, affecting demand outlooks in the world's largest metal consumer. However, prices remained relatively high, influenced by concerns over supply chain disruptions and escalating geopolitical tensions in the Middle East. Supply pressures increased as mining giant Rio Tinto announced a 7% drop in copper production in the second quarter, with expectations of continued impact due to the shutdown of one furnace at the Kennecott mine in the United States. In the London Metal Exchange, copper prices fell by 0.35% to close at $13,597.50 per ton. Aluminum decreased by 0.55% to $3,158.50, tin dropped by 0.85% to $53,365, zinc declined by 1.35% to $3,550.50, and nickel decreased by 0.20% to reach $16,735 per ton.
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