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🖥️COPPER FUTURES FALL DESPITE RECENT GAINS

🖥️COPPER FUTURES FALL DESPITE RECENT GAINS

Day: 08 | Time: 10:15:16 Copper futures fell to around $4.60 per ounce on Monday, slightly down from a one-month high, following data from the Shanghai metal market that showed an unexpected decline in operations by copper cable and wire producers last week, signaling weak demand for the metal in the major consumer China. Meanwhile, copper rose nearly 7% last week, marking its best weekly performance since mid-May, as weak US economic data increased the likelihood of the Federal Reserve cutting interest rates in September. Investors are now focusing on US inflation data this week, as well as fresh comments from Fed officials to gain more insights into the path of monetary policy. Markets are also awaiting signals of new stimulus measures in China as high-level leaders gather for the Third Plenum this month. Additionally, seasonal demand increase and strong consumption from the renewable energy sector are expected to further support copper prices.