You Can Blame China For This Copper Mess
Copper prices collapsed on Tuesday night, and you can go ahead and blame that on weak demand from the world's largest consumer of the commodity, China.
In the chart below, courtesy of Bank of America, you can see that China's stock piles of copper have fallen substantially over the last year, and it's clear based on copper's price that the country isn't buying more to restock.
Overall, the Chinese economy is going through a massive slow down as the government tries to transition from an investment based economy, to a consumption based economy. That means less building and infrastructure development in general. In this case, that probably also means Chinese copper demand isn't coming back any time soon.
BAML
- Spiti Valley guide 2024: Stunning locations & interesting things to do
- Zydus Q4 net profit surges 4-fold to ₹1,182 cr; revenue at ₹5,534 cr
- Sebi mulls facilitating MFs to invest in overseas funds with exposure to Indian securities
- India's forex reserves jump $2.56 bn to $644.15 bn
- JSW Steel Q4 net profit falls 65% to ₹1,322 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market