10:44 - 9.09.2024

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September 9, Fineko/abc.az. Copper prices fell on Monday after weaker-than-expected U.S. employment data heightened concerns about the health of the world's largest economy.

ABC.AZ reports that 3-month copper futures on the London Metal Exchange CMCU3 dropped by 0.5% to $8,951 per ton, losing 2.6% last week, which was the largest weekly decline since July.

The best-selling October copper contract on the Shanghai Futures Exchange SCFcv1 fell 1.2% to 71,720 yuans ($10,091.89) per ton.

Employment data released on Friday shows that dynamics of the labor market slowed down more than expected, raising fears of a recession in the U.S.

This has led to a drop in prices for risky assets, including copper, which is often seen as an economic indicator.