COPPER
Copper’s stellar rally is starting to creak as investors unwind their bullish bets and evidence of demand weakness mounts in China’s powerhouse manufacturing sector.
Prices plunged as much as 4.3% in London, crashing through their 50-day moving average to trade at a seven-week low. Copper hit an all-time high last month, but pressure on the bellwether metal is mounting as Chinese demand softens and investors grow more confident that the strong inflationary forces seen across leading economies will prove transitory.
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