10:55 - 14.11.2024
November 14, Fineko/abc.az. Copper prices fell below $9,000 per ton for the first time in two months amid the strengthening of the US dollar after Donald Trump's victory in the U.S. presidential election, ABC.AZ reports, referring to Bloomberg.
The election of Donald Trump as president of the U.S. has spurred the growth of the US dollar, as traders are betting on a tougher policy of the Federal Reserve System (FRS) in the long-term prospect. Trump also promised to raise tariffs and cut taxes - both of which can increase inflationary pressure in the economy, the agency explains.
Copper retreated from record values reached in May amid concerns about a recovery in demand in China, the world's largest consumer of the metal.
