Copper price pressurised

COPPER cathodes.

COPPER price yesterday on the global market was under pressure from concerns of excess supplies which are mounting.

Yesterday, the commodity which is Zambia’s major source of foreign exchange was, however, up by a modest 1.5 percent to US$6,563.50 a tonne, just short of neutralising overnight losses on the London Metal Exchange (LME).
Reuters reports that hefty supply of both copper and nickel was outweighing expectations that a flurry of data over the next few weeks will underscore a strong second-half economic outlook for China.

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