en.Wedoany.com Reported - Copper prices on the New York futures market extended their decline on Wednesday, falling for a fifth consecutive trading day and breaching the $6.0 per pound mark for the first time since early May.

Copper, widely regarded as a barometer of the global economy, has been under sustained pressure due to signs of a slowdown in China, the world's largest consumer. Heightened risk aversion in the market and a stronger U.S. dollar against major currencies have further added to the downward pressure on copper prices.

In May, more optimistic expectations for Chinese manufacturing demand for copper had pushed prices to historic highs. However, the latest data shows that on the Commodity Exchange (Comex) in New York, the most actively traded copper contract fell 2.7% in May, closing at $5.97 per pound, its lowest level since May 5. Earlier, on May 13, copper prices hit an all-time high of $6.65 per pound after three consecutive record-breaking sessions. Since then, copper prices have fallen by a cumulative 10.22%.

The metal, used in energy, construction, and manufacturing, is still up 5% year-to-date. Over the past 12 months, copper prices have risen by a cumulative 22%. In 2025, copper prices surged 40% due to widespread supply disruptions. However, as slowing global economic growth dampens demand expectations, copper prices are gradually retreating in the market.

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