Copper news

Yesterday, most cryptos were in the red. Many in the top 10 by market cap lost as much as 5%, some more. Bitcoin (BTC/USD) remained stable at above $56,500. Shiba Inu (SHIB/USD) gained more than 12%, but its double-digit growth is hardly a surprise for anyone now. A…

Copper price remains steady above $4.2500, which has been a crucial support level for the meta in September. However, based on the formation of a rising wedge, a trend reversal is likely. copper price Decline in inventories Tight supply in China has supported copper price above the crucial…

Copper price ended the week in the green as the value of the US dollar declines. In the new week, focus will be on manufacturing PMIs and the greenback’s price movements. copper price Declining US dollar Copper price is also reacting to the declining value of the greenback. On…

Copper price is trading steadily above the psychological level of 4.00 after plunging below it in the past week. However, it remains below the crucial support-turn-resistance zone of 4.25 and below the long-term 200-day EMA. As such, investors are keen on whether the current rise is a corrective rebound…

Copper price is on a rebound, even as it remains on a downtrend. A stronger US dollar and China’s slowed economic growth are the key drivers. copper price Strengthening dollar The rising US dollar is also weighing on copper price. As is the case with most commodities, the red…

Copper price has been on a decline since hitting a two-month high in the past week. Slowed factory activity in China has impacted demand. copper price Chinese manufacturing activity The slowing down of China’s manufacturing activity is one of the key factors impacting copper prices. On Monday, the country’s…

Copper price is on a consolidation pattern as investors await further cues from various countries’ manufacturing PMIs. At the time of writing, it was down by 0.36% at $4.2765. copper price Week’s drivers of copper price On Wednesday, China is set to release its manufacturing PMI, with analysts expecting…

Copper price has surged by about 30% year-to-date. It hit its all-time high of 4.8845 in mid-May before pulling back. Shaw & Partners’ Peter O’Connor has indicated that the prices may soon normalize to below $4.53 per pound ($10,000 per tonne) as the metal’s supply bridges the current gap…

Copper price remains above $4.5000 amid heightened demand. With reference to hedging against inflation, Goldman Sachs’ Jeff Currie has stated that cryptos should be seen as an alternative to copper rather than gold.   copper price Copper as alternative to cryptocurrencies As inflation concerns continue, some investors and analysts…

Copper price is on a consolidation pattern after hitting a 10-year high on Thursday last week. At the time of writing, copper futures were down by 0.08% at 4.5255. The red metal remains on an uptrend amid the ongoing talk of a commodity supercycle. The recovery of various economies,…

Copper price remains on course towards its target of a 10-year high despite Tuesday’s pullback. On Wednesday, it recouped some of the previous session’s losses as its demand soars. Supply concerns have further fuelled the rallying.       copper price Reasons Behind Copper Price Rallying Copper price continues to find support…

Copper price is range-bound as the recovering US economy continues to offer support. However, rising COVID-19 cases and wait-and-see approach for Biden’s infrastructure plan are curbing its gains. copper price Copper price remains range-bound amid influence from bullish and bearish market forces. On the one hand, the steady recovery of…

Copper price has been range-bound after an uptrend that lasted for close to a year. Between March 2020 and February 2021, the red metal had surged by over 54%. However, it pulled back to a low of about 3.85 in early March and has been trading sideways ever since. On…

Copper prices were trading at $4.1360 on Monday’s session. The 0.1% decline was due to the strengthening US dollar. However, the red metal found support from the upbeat data from China and the New York state.   copper prices Bullish industrial data Copper prices are finding support from the upbeat…

On Monday, copper prices at the London Metal Exchange surpassed the $9,000 per tonne level to trade at its highest price since September 2011. Similarly, the red metal was trading at its highest since August 2011 at $10,4433.6 per tonne. In New York, the prices were rose to a 10-year…

Copper prices extended its gains for the third consecutive session. On Tuesday, copper futures were up by 0.74% to trade at $3.6930. This is its highest price level since mid-January 2021. A bullish Chilean trade balance and heightened hopes of the US stimulus package have contributed to the surge. copper…

Copper prices rose by 1% on Monday, to trade at $3.63. The surge is a reaction to the bullish numbers released earlier today on China’s GDP growth and industrial production. The figures have helped fuel the positive sentiment on China’s rising demand for Copper. However, the observed price consolidation is…

On Thursday, copper prices were down by 0.78% to $3.51. The decline was a reaction to the lower-than-expected data on Chinese manufacturing PMI. Despite the downward trend, the red metal prices are finding support from news that China has approved its first COVID-19 vaccine for use by the public.  …

Copper prices are wavering, even as Japan’s manufacturing sector records improved business sentiment. Data from the Bank of Japan indicates heightened confidence among Japan’s manufacturers. Notably, copper prices are finding support from the weak US dollar. Furthermore, the ongoing progress in COVID-19 vaccination has held the red metal prices above…

Copper prices are trading at $3.50, a decline from last week’s $3.54. Last week’s peak price was the highest level since early 2013. Today’s drop is due to the overbought signal. However, the metal is finding support from China’s strong economic data.   Copper prices wavering around the overbought territory…

Copper price has been on an upward trend after dropping to ~$2.09 in April this year. It is currently trading at $3.23, which is the highest mark since 2018. A relatively weak U.S. dollar, stable Chinese economy, and China’s tech-heavy 5-year plan have contributed to the bullish trend. Besides, production…