Copper Prices Slide as Weak China Property Sector Support Raises Demand Fears
Copper prices dropped on Friday, pressured by weak policy support for China’s troubled property sector.
China’s Property Sector Woes Weigh on Copper Demand
Weak policy support for China’s property sector sparked demand concerns.
Global Economic Uncertainty Fuels Bearish Sentiment
Global economic uncertainty fueled bearish sentiment in copper markets.
Key Market Data:
- Copper prices fell 1.2% to $7,441.50 per tonne
- China’s property sector accounts for 20% of copper demand
- Gold prices remained steady at $2,734.10 an ounce
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Additional Sections:
Market Outlook:
- Weak China property sector support signals a bearish market outlook for copper.
- Traders should consider short-term trading strategies.
Trading Strategy:
- Consider selling copper futures on rallies.
- Monitor gold and silver prices for potential buy opportunities.