Copper Prices Decline on LME Amid Weak Chinese Demand

Copper prices on the London Metal Exchange fell today due to weak demand from China, highlighted by recent economic data. "While supply-side shortfalls support prices, risks from weak demand, particularly in China, loom large," noted analysts at StoneX Intelligence.

Despite the weak demand, concerns over supply could support copper prices. Production at Anglo-American's Los Bronces copper mine in Chile is expected to drop by about 30% due to plant maintenance. As of 0848 IST, the three-month copper contract on LME was at $9,647.0 per ton, down 0.4% from the previous close.