Tag: copper price

Copper MMI: Copper Prices Awaiting a Downturn

Copper MMI: Copper Prices Awaiting a Downturn price of copper

Recent price action suggests strong potential for the price of copper to shift away from the rally witnessed at the beginning of the year. Technical analysis (TA) indicates that copper prices have begun to form lower highs on shorter time frames. This is a strong indicator that a downtrend lies ahead. However, prices will continue […]

China and Peru Place Drag on Copper Prices

China and Peru Place Drag on Copper Prices escopeta-lista

Hopes of a recovery in copper prices seem to have flat-lined since the start of February. The primary reason for this is lukewarm demand from China, one of the world’s biggest copper consumers. This effectively ends the price surge markets saw over the past few months, culminating at the end of January. Initially, the optimism […]

Copper MMI: Copper Prices Lose Momentum

Copper MMI: Copper Prices Lose Momentum copper-production-at-the-metallurgical-plant-5

Copper prices reacted to short-term resistance and rallied at the beginning of the year. That said, copper prices need to break lows and form a lower high to change the overall trend. Currently, the trend is up, and prices are expected to continue rising. Technical support levels should act as a price floor, giving buyers […]

Copper MMI: Prices Spike, Confirming Copper Market Uptrend

Copper MMI: Prices Spike, Confirming Copper Market Uptrend Copper-MMI-January-1

In recent days, copper prices managed to break prior highs after experiencing several weeks of pullback. Prices managed to hit short-term demand zones, which typically induce bullish strength. This confirmed the recently-formed uptrend in the copper market, ending the macro downtrend that started earlier in 2022. New data indicates the start of a bullish market, […]

Copper Price Trends: 2022 Review

Copper Price Trends: 2022 Review Copper metal products. Stack of round, square, hexagonal copper

Looking at 2022 copper price trends, the market was nearly as volatile as metals like nickel and aluminum. Currently, copper prices are attempting to break prior highs but have yet to get there. As copper taps into short-term resistance levels, the possibility of a pullback in price appears more and more likely. Meanwhile, the copper […]

Copper MMI: Copper Prices Bullish as Year’s End Approaches

Copper MMI: Copper Prices Bullish as Year’s End Approaches Copper-MMI-December-1

The Copper Monthly Metals Index (MMI) rose 3.87% from November to December. As with other base metals, copper prices broke out of range to the upside last month as China began to pivot away from zero-COVID. Copper prices rallied to a peak on November 11 before a brief and modest retracement. Shortly after that, prices […]

Despite Mine Expansion, Copper Price Outlook Still Bearish

Despite Mine Expansion, Copper Price Outlook Still Bearish copper-4318679_1920

Let’s begin with the good news first. Global copper mine capacity rose nearly 5% to 20.38 million tons (MT) between January and September of 2022. According to a report by the International Copper Study Group (ICSG), this was mainly due to the additional production at new or expanded mines. That said, global demand for the […]

Copper MMI: Copper Price Moves Sideways Before Starting Rally

Copper MMI: Copper Price Moves Sideways Before Starting Rally Copper-MMI-November-1

The Copper Monthly Metals Index (MMI) moved sideways, with the overall copper price falling 2.0% from October to November. While volatility remains a risk, copper prices traded in a tight range throughout October. In general, prices traded just above the low found in late September. Copper was also among multiple base metals who’s prices move […]

Copper MMI: Copper Prices Move Sideways in Tight Range

Copper MMI: Copper Prices Move Sideways in Tight Range Copper-MMI-October-1

The October Copper Monthly Metals Index (MMI) fell 5.59% from September to October, with all components experiencing declines. Still, future copper prices face a wide range of challenges. Copper prices continue to show signs of short-term consolidation following a brief rebound that stalled in late August. Meanwhile, the bottom found in mid-July and the peak of […]

Copper Prices: Firming of Resistance and Demand Zones

Copper Prices: Firming of Resistance and Demand Zones Copper metal products. Stack of round, square, hexagonal copper

The copper industry showed resilience through many market challenges throughout 2022. Despite dropping prices and demand, copper continues to fight against obstacles ranging from Europe’s energy crisis and smelter shutdowns to China’s property crisis and shrinking demand. As MetalMiner noted earlier this month, copper markets do remain particularly volatile. And while prices traded sideways in […]

Scroll to Top