Copper prices to a prolonged decline foreshadows a slowdown in the global economy – experts

Copper prices have moved to the downside, hitting their lowest level since last spring, down 6%, Investing.com reported last week. On Friday, the metal fell by 0.04% to $8237.60 per ton. Change in the trend contributed to the cessation of the strike of workers at the Chilean copper producer Codelco, which is a world leader in the field. As a result, earlier fears of market participants about the emergence of a shortage of metal dissipated, and prices, which had risen against the background of the company's problems, began to fall. Since March, it has fallen in price by 20%, which indicates the onset of a bear market. Copper is in high demand in various industries; according to analysts, changes in its prices serve as an indicator of the course of the world economy in the short term. In particular, their decline signals that the dynamics of the latter are likely to deteriorate.