Copper continues to fall in price for 5 months

12:19 - 1.09.2022

September 1, Fineko/abc.az. The price for copper continues to decline for the 5th month in a row.

ABC.AZ reports that the price of copper fell almost 3-fold after Russia launched a special operation in Ukraine in March.

Concerns about copper demand outweigh the continued decline in supply. Chile, for which more than a quarter of global copper production accounts, stated in July that its production fell by 8.6% against the previous year.

However, in China the economy continues to falter because of the 2-month lockdown in Shanghai, the slow recovery of enterprises and the struggle with stagnant demand due to the recurring Covid-19 epidemic earlier this year.

 

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