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Copper hits 10-day low on profit-taking as supply worries ease
LONDON: Copper prices eased to their weakest in 10 days on Thursday, hit by profit-taking on reduced worries about supply, a sell-off in AI stocks, along with concerns about rising inflation and interest rates. Benchmark three-month copper on the London Metal Exchange shed 1.2% to $14,314 a metric ton by 1030 GMT after touching the lowest since October 5 at $14,289. “Two things are happening at the same time: the easing worries of supply and the strong inflation report,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. “That was too much for the market to chew in one go ...
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