Copper Dropped Due To Expectations Of China’s Easier Monetary Policy.
Copper prices settled lower by -0.37% at 757.7 amid expectations of looser monetary policy and a strengthening dollar, dampening investor sentiment towards the industrial metal. Additionally, rising inventories in LME warehouses, reaching their highest levels since February, exerted downward pressure on copper prices. The widening discount of LME cash copper to the three-month contract, the largest since at least 1982, underscored concerns about near-term oversupply. Despite a slight decline in SHFE warehouse inventories, copper stocks remained elevated, reflecting robust Chinese production and imports.
