Copper prices experienced a significant decline today, driven by mounting anxieties over a potential global recession. The price of copper, a key industrial metal, has been particularly sensitive to concerns about slowing economic growth worldwide.

Factors Contributing to the Price Drop

• Recession Fears: Growing concerns about a global economic slowdown are dampening demand for copper.
• Reduced Construction: A decline in construction activity, a major consumer of copper, is impacting demand.
• Manufacturing Slowdown: Decreased manufacturing output further contributes to the reduced need for the metal.

Analysts are closely monitoring economic indicators to gauge the severity and duration of the anticipated downturn and its potential impact on commodity markets.