Copper recovers lost ground
Anglo American's Los Bronces copper mine at Los Andes Mountain range
London - Arab Today
Copper clawed back some of the previous session’s hefty losses on Friday as supply disruptions in Chile and Indonesia lent support, but still posted a second straight weekly drop as concerns over the demand outlook weighed.
The metal used in construction fell 3 percent on Thursday, its biggest one-day drop in 17 months, as traders flagged persistent worries over Chinese consumption.
Some investors also cashed in after copper hit a 21-month high of $6,204 on Feb. 13 on supply outages from major copper mines and hopes a pledge by the administration of US President Donald Trump to lift infrastructure spending would fuel demand.
Source: Arab News
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