Copper prices dive on weak demand

Copper prices have plummeted to their lowest in over two months after peaking above $11,000 per ton in May, now down 14 per cent.

This drop is attributed to weakened demand from China, the world’s top consumer, which reduced buying amid high prices, leading to increased inventories.

Despite these challenges, analysts foresee a potential rebound in demand as prices correct, especially with anticipated investments in China’s infrastructure and growth in sectors like renewables and electric vehicles (EV).