The weakening of the US dollar and strong demand from China push LME copper prices close to the 10,000 yuan mark
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LME copper prices are approaching USD 10,000 per ton, due to a weaker dollar and strong demand from China. Copper prices have risen for four consecutive weeks, reaching a high of USD 9,928 on Monday. The market expects the Federal Reserve to cut interest rates, making dollar-denominated commodities cheaper. Despite the growth in Chinese demand, Goldman Sachs warns that weak economic data may put pressure on the industry, maintaining its year-end LME copper price forecast at USD 9,700
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