Copper on July 6 plunged below $7,500 a ton, as increasing fears of a global recession hit the industrial metals market, lowering prices from its record highs a months ago.
The price of copper has dropped by 7.1 percent week over week, according to a Twitter post from Hedgeye, an online investment research and financial media company.
Copper fell by as much as 4.9 percent to $7,291.50 a ton on the London Metal Exchange (LMEX)—its lowest level since November 2020 after recovering to $7,552 a ton by 12:43 p.m. BST.
The mineral had already been hit by a 4.2 percent slump yesterday going below $8,000 a ton, reaching its lowest close in 19 months….