Shanghai copper slips
MELBOURNE: Shanghai Futures Exchange copper declined 1 percent to 44,960 yuan ($6,523) a tonne on Thursday after political uncertainty in the United States undermined expectations that President Donald Trump would be able to boost infrastructure spending.
“It now seems that the scrutiny that President Trump is coming under ... have started to seriously unnerve investors ...All the metals have been sold into and with slightly better volume than has been seen in recent Asian sessions,” said broker Kingdom Futures in a report.
“If this afternoon’s US leading indicators and jobless claims show any slowdown in the US economy then the stock markets and indeed metals markets will come under further pressure.”—Reuters
US MIDDAYCopper tumbles to one-week low on Trump uncertainty