Commodities
Chinese Copper Inventories Post Record Weekly Drop
Copper prices have snapped back strongly from an initial selloff as President Donald Trump rolled out tariffs on China and other nations.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Copper inventories in China saw a record weekly drop, in a sign that demand in the top consumer is holding up well even as anxiety about a burgeoning trade war swirls.
Inventories in warehouses monitored by the Shanghai Futures Exchange shrank by 54,858 tons, the most in data going back to 2003, to 116,753 tons, according to weekly figures released on Friday.