Global copper prices fell below $8,000 to a 6-month low

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China's economic recovery is expected to slow...

MUMBAI: As hopes of China's economic recovery to pick up pace this year dimmed and the whispers of an economic slowdown rising over new challenges, copper-copper prices in the world market collapsed, falling below the $8,000 per tonne level for the first time in six months.

Economic recovery was expected to accelerate after the end of Zero Covid Policy in China. But copper prices have collapsed more than seven percent this month alone after disappointing economic growth figures from China, the world's biggest consumer. Global industrial metal prices have fallen in recent days as new demand falters and the possibility of large capital spending on property or infrastructure in China recedes. Metal markets have seen pressure on prices after China's disappointing April macro data.

In the London Metal Exchange, three-month copper prices fell by $25.50 to $8102 in the evening, aluminum prices fell by $36.50 to $2227, zinc prices fell by $59 to $2372 and tin prices fell by $630 to $24,320. While spot copper prices were set at 7960 to 7961 dollars. In aluminum spot, 2011 to 2022 dollars, zinc was placed as 2362 to 2363 dollars.

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