Copper prices plunged on Wednesday, reflecting mounting concerns about demand from China. Economic slowdowns in major global economies have heightened fears about reduced industrial activity in China, a key driver of copper consumption.

Factors Contributing to the Price Decline

• Chinese Demand: Concerns that China’s economic growth is slowing, potentially leading to reduced demand for copper.
• Global Economic Uncertainty: Broader economic anxieties are weighing on industrial metal prices.
• Inventory Levels: Rising copper inventories in warehouses are contributing to the downward pressure on prices.

Market Analyst Commentary

Market analysts indicate that the copper market is facing headwinds due to macroeconomic conditions and softening demand. The near-term outlook remains uncertain, with prices expected to remain volatile.