Copper Prices man

Copper prices averaged USD 12,529 per metric ton in March, down 3.3% from February. On 31 March, the commodity traded at USD 12,257 per metric ton, down 7.8% from 27 February.

Average copper prices declined for the second consecutive month in March and ranked among the worst performers in the base metals complex. The conflict in the Middle East darkened the demand outlook for the red metal, as higher energy prices are expected to weigh on industrial production. Moreover, a stronger USD made purchasing copper more expensive. Finally, rising inventories and refined output in China suggest the tight market that supported prices in recent months may be starting to unwind.