Copper slips on growth fears, signs of rising supply-
Copper prices fell on Tuesday as concerns that global trade ructions would cool economic growth were compounded by signs of rising supply, but low inventory levels limited losses.
Growth concerns have been weighing on the industrial metals sector, including copper, ANZ analysts wrote in a note, adding that prices had been knocked by news that Vedanta Ltd VDAN.NS was closer to being allowed to restart its 400,000 tonnes per year copper smelter in India. market is focused on an upcoming economic policy meeting in China, with expectations of further stimulus to domestic growth,” the bank added, referring to the Central Economic Work Conference taking place in Beijing.
China’s refined copper output rose by 7.6 percent year-on- year to 768,000 tonnes in November, its highest level since June, according to the National Bureau of Statistics.
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