From The Economic Times · Reuters · · 1m 10s
Copper price falls for 4th day
Copper drops 2.9% this week, worst since March, as AI stocks tumble.
In brief
Copper drops 2.9% this week, worst since March, as AI stocks tumble. Copper prices fell 2.9% this week, heading for its biggest weekly drop since March 20, driven by AI investment fears. Originally reported by The Economic Times.
Copper price falls for 4th day
Copper fell for a fourth straight session on Friday.
Copper heads for worst week since March
Benchmark three-month copper on the London Metal Exchange was down 0.8% at $13,738 a metric ton.
Weekly drop tracks to 2.9%
The metal is on track for a 2.9% drop this week, which would mark its steepest weekly loss since the week ended March 20.
AI investment fears drive decline
Copper increasingly influenced by sentiment towards data centre expansion.
“sentiment towards data centre expansion”
CRU analyst warns of short-term support
Craig Lang, principal analyst at CRU, cautioned against labelling copper's dip a sustained correction.
Shanghai copper stocks hit 33,848 tons
Copper stocks in Shanghai Futures Exchange warehouses fell more than 24% this week to just 33,848 tons.
LME copper shows near-term tightness
The cash LME copper contract was trading at a $117.50 a ton premium over the three-month forward.
What matters most
Copper prices fell 2.9% this week, heading for its biggest weekly drop since March 20, driven by AI investment fears.
