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BEIJING – London copper and aluminum slid on Thursday, as demand worries loomed amid economic headwinds, while improved production in world’s top metals producer China also pressured prices.
Three-month copper on the London Metal Exchange was down 0.5 percent at $7,754.50 a ton.
LME aluminum slid 0.6 percent to $2,321.50 a ton, after climbing as much as 5.4 percent in the previous session.
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Prices of industrial metals rose sharply on Wednesday as hopes for a slower pace of US interest rate hikes boosted global stock markets and weakened the dollar, making greenback-priced metals cheaper for buyers with other currencies.
Still, a gloomy outlook of global economy fanned concerns of tepid demand for metals. – Reuters
