While world major economies and demands slow down, the declined copper price discourage the investment of mining, wind farms, solar arrays and electric vehicles.
The Wall Street Journal reported, a prolonged slide in copper prices is challenging the world’s shift to renewable energy sources. Copper futures have slid 20% from highest in the past 10 months, to about $3.58 a pound recently. Main reason is weaker-than-expected economic recovery of China, the world’s largest copper consumer. Other factors include the resolution of supply disruptions in Chile and Peru, two largest producers, a slowing global manufacture sector and a strengthening dollar.
