Copper price under pressure after global trade data report

Yesterday, December 21, was a good day for copper as a strong rebound was seen, prices saw nearly a 1.5 decline, but today, it has not been able to hold on after the International Corporate Study Group report has come, which puts the global copper trade data for January to September on a year-on-year (YoY) basis.

Within this, the refined output for the global markets increased by 1.7 percent and then secondary production also was up by 5.5 percent.

The global demand did not rise much and shows an increase of just about 1.3 percent and within this number, Chinese demand shows a decline of 4.5 percent between a period of January and September 2021.

Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.