A rising US Dollar is pushing back against risky commodity assets, and the 3.07% slump in copper price this Thursday appears to be a reflection of this scenario. Copper prices have ridden high on the recovery of demand from China, as coronavirus vaccinations and other control measures allow the reopening […]
Commerzbank is predicting that the price of copper per tonne would dip to $8500. The prediction was provided by Senior FICC Technical Analyst at the bank, Axel Rudolph. However, the analysis is conditional, requiring the February 2021 top at $9617 to stay intact. In his words, “potential support comes in […]
Copper prices continued their steady advance on Wednesday, after exceeding the projected measured move target following the resolution of the bullish pennant on the daily chart. Yesterday, it was indicated in my review of the price action of copper that OCBC bank was projecting a new record high for copper […]
As copper prices hit 10-year highs yesterday, two sets of contrasting opinions have hit the market this Tuesday. On the one hand is OCBC Bank, whose strategists are predicting a new record high within the current super-cycle. OCBC cites exceptional end-demand from China and decade-low inventories as the prime factors […]
Copper prices have hit a 10-year high, after concerns that supplies will tighten further when the world recovers from the coronavirus pandemic. Copper prices have nearly doubled since the March 2020 crash, fueled by recovering demand from China and supply shortfalls that have arisen from several strikes in the world’s […]
Copper prices are trading lower this Wednesday, as investors capitalize on the rising US Dollar (the counter asset in the XCUUSD pairing) to take profits. A more expensive dollar makes dollar-denominated commodities more expensive for buyers that require conversion of their local currencies to the greenback (such as China and […]
Copper price could be on its way to posting 9-year highs if the bulls continue to push prices close to the 3.900/pound price level. In a session of thin trade on Tuesday, copper price was lifted by recovery hopes, which has been brought on by positive vaccination data. Studies from […]
BHP share price rose by more than 2% in Australia and is among the top performers in the FTSE 100 today. The shares of the biggest FTSE 100 constituent has risen to 2,280p, the highest level since 2011. BHP news: Commodity companies have done relatively well in the past few […]
Copper price has retested eight-year highs amid the weaker dollar and optimism about vaccine-fuelled economic recovery. So far, copper price, a measure of industrial growth and global economic wellbeing, has rallied big on renewed expectations of additional stimulus. Copper, a global economic bellwether, rallied hard this week on expectations of […]
Copper prices rose for the 2nd straight day, after top producer Peru announced a year-on-year drop in copper production. Following November 2020’s 2.4% decline in production, December 2020 also saw a 1.6% drop when compared to production output for December 2019. According to ministry data, lower production from three of […]
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