Join

Enter Details

Comment on stories, receive email newsletters & alerts.

@
This is your permanent identity for Gizmodo, Kotaku, Lifehacker and Business Insider Australia
Your email must be valid for account activation
Minimum of 8 standard keyboard characters

Subscribe

Great discounts, competitions and special offers from our partners.
Email newsletters aren't ready to go out just yet, but will contain a brief summary of our top stories, news alerts, plus details of competitions and reader events.
Having issues creating your account? Contact Support

Forgotten Password

Enter Details


Back to log in

Copper Prices Are Tumbling

Copper futures are down 2.3% to $3.29 a pound on the Comex.

China is the world’s largest copper market, and the drop is being driven by concerns about China’s growth. We just saw a string of poor data, especially fixed asset investment and industrial production for the month of April.

JP Morgan now expects Chinese GDP of 7.8% in Q2, down from 8%. They lowered their full-year projection to 7.6%, from 7.8%.

Bank of America’s Ting Lu sees downside risk to his Q2 forecast of 8.1%. Societe Generale’s Wei Yao has been below consensus for some time and maintains her Q2 GDP forecast of 7.8%.

Here’s a look at what Copper futures are doing:

copper futures

Follow Business Insider Australia on Facebook, Twitter, and LinkedIn