Copper has continues to retreat from its nine-month high – ING
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Meanwhile, Copper has continued to retreat from its nine-month high as expectations for the ex-US tightness are retreating following reports earlier this week that US tariffs on Copper imports could be imposed within weeks, not months, ING's commodity experts Ewa Manthey and Warren Patterson note.
Growth US likely to slow on the back of tariffs
"Tariffs are bearish for Copper and other industrial metals in the context of slowing growth and keeping inflation higher for longer. If US inflation remains persistent or rebounds, it could prompt the Federal Reserve to delay or increase interest rate cuts."
"With growth in the US likely to slow on the back of tariffs and China already struggling to revive its economy, demand for Copper and other industrial metals is likely to weaken looking ahead."
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