Weekly Copper Review: COMEX futures down more than 3% this week

COMEX Copper futures pulled back and tested two-week lows under $5.80 per pound as markets eyed Chinese economic cues. Volatile equities which stayed under pressure also weighed on the red metal. China on Thursday lowered its GDP target to 4.5% to 5% for this year. Soaring LME Copper inventories acted as another deterrent for the red metal and COMEX Copper futures closed around $5.84 per pound, down 3.60% for the week. With this slide, the metal has given up similar gains seen in previous week.

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