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Copper snaps back as AI worries fade, shortages persist in China
LONDON: Copper prices picked up on Wednesday after dropping in the previous session on a recovery in investor sentiment about AI companies and shortages in top metals consumer China. Benchmark three month copper on the London Metal Exchange gained 1% to $13,796 a metric ton by 1025 GMT, having lost 1.6% on Tuesday and last week recorded its biggest weekly drop since March. Much of the losses were due to fears that the sweep by Democrats in the US midterm elections would lead to tougher AI regulation, curbing demand in a fast-growing area for copper. “Stock markets are rebounding so that’s help...
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