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Red metal fell 0.11% in London for its fourth consecutive day of losses, and has accumulated a 2.53% drop in the week.
The last few weeks have not given a truce to copper, which continues to lose value in the international market
This Friday marked its fourth consecutive day of decline on the London Metal Exchange, accumulating a drop in 2.53% in the week and losing the floor of US $ 2.80 by The first time in almost a year
The red metal pound fell 0.11% today to $ 2.7969 US, according to Cochilco's figures, its lowest price since July 25, 2017.
the weakness could continue for the next quarters, according to the projections of the futures market. This morning, derivatives accompanied the contraction in the spot price, with a low 0.4% for contracts at September, at US $ 2,77660, and 0.41% for December at US $ 2,7905.
This comes after Goldman Sachs showed signs of pessimism regarding the price of red metal, reducing its price projections under the premise that it would be impacted by a loss of momentum in global growth and the threat of a trade war between China and the United States
In addition to the fear of a lesser global expansion – which in 2017 had led to a rise in riskier badets and led to copper in top of the years – the possible effect on the Chinese economy has a particular impact on the metal. industrial, since the Asian giant is its main buyer.
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