Weekly Copper Review: COMEX futures slippery after testing one-month high

COMEX Copper futures slipped after testing a one-month high of $4.90 per pound as choppy equities and sustained worries over global economic outlook capped prices. The World Economic Forum?s Chief Economists Outlook noted that global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel uncertainty and risk stalling long-term decision-making. The growth outlook is divided, with weak prospects in North America, resilience in Asia-Pacific and cautious optimism in Europe as countries are forced to adapt to a new geoeconomic environment. COMEX Copper tested around one week low around $4.70 per pound but fell around 2.80% for the week. The metal edged up around 2% for May though.

Powered by Commodity Insights