Mining
Monday, July 18th, 2022 9:11 am EDT
A growing number of home buyers across China threatened to stop making mortgage payments for stalled property projects, aggravating a real-estate crisis that has already hit the economy.
Copper rose 4.3% to $3.37 ($7,414) a tonne on the Comex market in New York.
Click here for an interactive chart of copper prices
Goldman Sachs Group Inc. last week forecasted copper to trade at $6,700 in the next three months, a 22% downgrade from its previous outlook.
The bank said a surging dollar will remain a headwind until macroeconomic risks subside.
(With files from Reuters)
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