copper
Copper price is having a remarkable year as it soared to a record high this month amid demand and supply dynamics. The price soared to over $10,000 for the first time on record, joining other metals like gold, silver, platinum, and nickel in a strong rally. Copper’s demand and supply imbalanceThe main driver for copper is that demand is growing at a slower pace than supply, which explains why BHP has made a bid for Anglo American. In a recent note, the International Copper Study Group slashed its copper supply for the year. It estimates that the industry will have an oversupply of about 162k t...
Invezz
Copper prices retreat from two-year high of $10,208 a ton amid cautious Chinese demand. Copper prices slipped after initially climbing above $10,200 a ton, as market focus shifted towards demand conditions in China, the world’s leading consumer of the metal. Despite a brief surge that saw copper reach a two-year high of $10,208, prices dropped to $10,100.50 by midday on the London Metal Exchange, reflecting a 0.4% decrease. Chinese manufacturing shows signs of lifeThe decline in copper prices comes amidst mixed signals from China. A rebound in Chinese manufacturing activity, evidenced by the o...
Invezz
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