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Copper and zinc sink to fresh lows amid China economic uncertainty

Industry groups predict shortages, but disappointing economic data raises questions

Copper futures fell to their lowest point in nearly six months Tuesday.   © Reuters

TOKYO -- Prices for nonferrous metals like copper and zinc have slumped this month despite predictions of shortages just a few weeks ago, on concerns that the shortfalls could turn into surpluses if Chinese demand recovers more slowly than expected.

Three-month zinc futures on the London Metals Exchange, an international benchmark, fell to $2,483 per tonne at one point Tuesday, the lowest since October 2020 and down by roughly half from the all-time high reached in spring 2022.

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