Copper pricing dents amid China demand kerfuffle
Reuters says that China's tightening monetary measures, combined with unrest in the Middle East, rising oil prices, euro zone problems and Japan's nuclear crisis, may all serve to damage the global economic recovery.
Reuters has reported that the price of copper in New York/London trading volumes sunk sharply on Wednesday, March 30, 2011, amid mounting worries about Chinese demand.
The report contends that China's tightening monetary measures, coupled with unrest in the Middle East, rising oil prices, euro zone debt problems and Japan's nuclear crisis have all combined to throw the magnitude of the global economic recovery into question, and with it, overall demand for raw materials used in a plethora of connectors, wiring, cabling, and electronics of all shapes and sizes.
The weaker demand cues from China and fears about a moderation in the global economic recovery kept many stock market bulls sidelined, added the report.