Base Metals Preview: COMEX copper edges lower on demand concerns

COMEX copper is seen edging lower amid pessimistic sentiments after World Bank on Tuesday slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a significant headwind for nearly all economies. Mounting concerns over global growth are set to weigh on metal demand, the World Bank said, adding that metal prices are projected to decline in 2025?26, following gains in 2024. The World Bank?s metals and minerals price index is forecast to fall by 10 percent in 2025 and a further 3 percent in 2026, with the steepest declines anticipated for aluminum, copper, iron ore, and zinc. These projections reflect a weakening global demand outlook over the forecast period, including a slowdown in China, the world?s largest consumer of industrial metals, the Bank noted. Meanwhile positive cues from US equities that moved modestly to the upside limited losses in the red metal. The counter is quoting at $4.89 per pound, down 0.10% on the day. On the MCX, Copper is trading around Rs 881.10 per kg, up 0.24%% on the day.

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