Copper Declines as Tech-Stock Selloff Dulls Appetite for Risk
Copper fell with other industrial metals, as a selloff in AI-related stocks sapped risk appetite across global markets.
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Copper fell with other industrial metals, as a selloff in AI-related stocks sapped risk appetite across global markets.
The copper fund CPER rose 0.45% to US$39.75 on Tuesday while Freeport-McMoRan fell 1.26%. What it means for Chile and Peru, with prediction-market tariff odds. The post Copper Fund Edges Up 0.45% as Freeport Falls 1.26% | Copper, Oct 20 appeared first on The Rio Times.
Copper held a modest drop, as traders weighed the risk that a US tariff on imports of refined metal may not be adopted.
The threat of Trump tariffs is driving huge demand for the red metal.
Copper declined with other base metals after stronger-than-expected US consumer prices spurred bets on more aggressive tightening by the Federal Reserve.
Copper headed for a weekly gain, as signs of Chinese demand and possible supply disruption at a Chilean mine boosted the metal.
Copper steadied as a rally in tech-related stocks held near record highs on optimism about the artificial intelligence boom.
Copper rose for a third day, tracking gains in Asian equities after a tech-led rally on Wall Street.
Copper steadied as investors honed in on potential shifts in supply and as a Chinese national holiday was set to damp trading volumes.
Copper and other base metals retreated ahead of a weeklong holiday in China, as traders assessed the countryโs demand outlook following slower growth in industrial profits.