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Copper slips on concerns over AI demand, high US inventories
LONDON: Copper prices eased on Thursday after touching a two-week high in the previous session as investors stayed on the sidelines, wary about demand from the AI sector and high US inventories. Three-month copper on the London Metal Exchange was down 0.9% at $14,352 a metric ton by 1040 GMT, after hitting its highest since October 14 on Wednesday. “Sentiment has turned relatively more cautious rather than outright bearish,” JP Morgan analyst Patrick Jones said in a note. One of the drivers that sent copper to a record peak of $14,875 in September was bullishness that the frenzy to build AI da...
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