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Base Metals Preview: Copper At Two Week Low As Cautious Global Economic Outlook Weighs
(17-Jul-2024, 15:44 Hours IST)  
COMEX Copper futures are trading around two week low as a cautious global economic outlook is weighing on the metal. COMEX Copper lost 1.70% yesterday, sliding under $4.50 per pound amid soaring LME inventories and poor Chinese imports. Meanwhile, IMF noted yesterday that global growth is projected to be in line with the April 2024 World Economic Outlook (WEO) forecast, at 3.2% in 2024 and 3.3% in 2025. IMF opined that services inflation is holding up progress on disinflation, which is complicating monetary policy normalization. Upside risks to inflation have thus increased, raising the prospect of higher for even longer interest rates, in the context of escalating trade tensions and increased policy uncertainty.

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Thursday, April 2, 2026
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