Industrial commodity - Copper: China growth concerns weigh on outlook - ICICI Bank : Treasury Research

International copper prices traded largely flat in July amidst mixed cues. Weakness in the US Dollar aided copper prices. However, the upside was capped owing to rising concerns over growth outlook in China - which accounts for 40% of the world's copper demand. Given bloated inventories and concerns of slower growth in top consumer China, there remains scope for further downward movement in prices. However, Chinese Government's apparent efforts to curb refined copper production in China are likely to limit the downside.

Source : Equity Bulls

Keywords