Copper Prices Dropped Pressured By Subdued Economic Growth Outlook.
Copper closed down by -0.1% at 736, influenced by a subdued economic growth outlook, poor manufacturing data, and the absence of substantial stimulus support from China, the top metals consumer. The challenging economic conditions were evident in Chile, where copper giant Codelco reported a nearly 16% year-on-year decline in production in January. However, other producers in the nation contributed to a 0.51% increase in total copper production, reaching 433,800 metric tons, according to the Chilean Copper Commission (Cochilco).
