Copper marginally lower as IMF cuts China?s economic growth estimate

COMEX Copper futures are stuck around two-week high as markets are eying Chinese economic cues. The International Monetary Fund has reduced its projection of China?s economic growth in 2026 by one-tenth of a percentage point to 4.5%. The projection was trimmed from the previous forecast of 4.6% in July, according to the organisation?s latest World Economic Outlook. It noted that sluggishness in domestic consumption and weakening investment amid continued property sector strains were only partly offset by robust export performance. Copper is currently trading at $6.73 per pound, down 0.24% on the day as markets are trying to assess the near-term Chinese demand trends. MCX Copper futures are also down 0.30% at Rs 1420.15 per kg.

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