#Copper weaker demand growth from China will drag down price
The metal, known to some as the commodity with an economics degree, plummeted to a six-year low of $5,240 a metric ton last week on the back of the rout in Chinese stocks. While the government was able to stop the bleeding in equity markets and copper has recouped some of its losses, people who trade the metal predict weaker demand growth from China will help drag down prices.
Morgan Stanley, which said this week a slowdown in the country could tip the world into recession, predicts copper demand in China to grow at the slowest rate in five years.
Morgan Stanley, which said this week a slowdown in the country could tip the world into recession, predicts copper demand in China to grow at the slowest rate in five years.
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