Demand worries pull down copper - The Globe and Mail
Analysts have been cautious about the price rally that has seen copper more than doubling since the start of the year and have warned that the market is due for a correction as the fundamentals do not justify current levels.
A report showing China's lead market in surplus despite smelter shutdowns in the country further weighed on lead, sending prices down more than 12 per cent.
Nickel and zinc also both dropped more than 5 per cent.
The International Monetary Fund said on Wednesday that economic recovery may come three months earlier than forecast. But cautious investors watched economic data closely for further clues on the health of the global economy.
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About Me
- Robert Lewis and Jennifer Hodson
- Vancouver Island, British Columbia, Canada
- Jennifer believes we live in the garden of Eden and I believe that we are destroying it. Our saving grace is within ourselves, our faith, and our mindfulness. We need to make a conscious effort to respect and preserve all life.
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