Copper Price Slips under the Pressure of Euro-zone Debt

  • Tuesday, August 21, 2012
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  • Keywords:Copper Euro-zone Debt
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[Ferro-Alloys.com] Copper prices slipped on Monday, underperforming the broader commodities market as concerns about China's slowing economy and frustration over the four-year euro-zone debt crisis continued to weigh on already-cautious sentiment.
 
Much of the pressure on prices reflected disappointment that Beijing failed to launch a new round of monetary easing to boost its economy. Some had hoped new measures would be announced over the weekend.
 
Any stimulus measures would be considered key to boosting demand for the metal which is used in housing and construction. China is the world's largest copper consumer, accounting for 40 percent of global demand.
 
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