Copper prices continued their breakout during March, rising 4.25%. Prices then formed a second higher high on March 15, followed by a new higher low on March 27. The rally continued throughout April as prices climbed an additional 7.59%. As of April 15, they stand at their highest level since June 2022. Subscribe to MetalMiner’s […]
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Price of Copper (Pillar Page)
Price of Copper What Determines the Price of Copper? In the global commodities markets, copper prices are a crucial indication that take into account geopolitical considerations, supply and demand dynamics, and economic trends, not to mention copper’s role as a speculative investment. The base metal is an essential industrial commodity that plays a crucial strategic […]
Copper MMI: Copper Prices Rise to Highest Level Since April Amid Supply Concern
By mid-March, copper prices hit their highest level since April 2023. Prices previously found a bottom in early February before strong upside momentum saw them topple previous peaks within their long-term sideways trend. While prices clocked a moderate1.74% month-over-month decline throughout February, they rose 4.12% during the first two weeks of March. Overall, the Copper […]
Copper MMI: Copper Prices Remain Sideways as China Uncertainty Looms
Copper prices today remain trapped in a sideways range. Prices lack enough bearish or bullish momentum to establish a strong trend in either direction. Prices declined during the first weeks of January, falling to their lowest level since November. However, they rebounded in the second half of the month. This brought them a mere 0.52% […]
Copper Demand: Australian Exports to China Surge to Record High, Signaling Thaw in Relations
The frosty relationship between China and Australia continues to thaw, as evidenced in the bi-lateral trade indices indicate. Now, thanks to China’s growing copper demand, the world possesses one more indicator. According to recently released data, Australia exported 27,500 metric tons of copper ores and concentrates to China in November last year. At U.S. $44.5 […]
Copper MMI: Deep Market Contango, Index Moves Sideways
Copper prices saw a 1.90% increase during the final month of the year. By late December, this managed to bring them to their highest level since August, leading to mixed copper price forecasts for 2024. However, prices began to retrace from their 5-month peak by the start of 2024. By mid-January, they remained trapped within […]
Copper MMI: Possible Deficit Shifts Copper Price Outlook
Still short of a breakout, current copper prices lifted off their October lows during November and have yet to see a major downside correction. Nonetheless, copper prices remain sideways and sit only 1.5% above where they stood at the start of 2023. An increase among all of its components helped the Copper Monthly Metals Index (MMI) […]
Copper Mining Giant Ivanhoe Mines Announces New Mineral Resources in DRC
Canadian copper mining giant Ivanhoe Mines recently announced new “maiden” mineral resources for high-grade Makoko and Kiala deposits in its project in the Democratic Republic of Congo (DRC). The company said that Makoko contains indicated mineral resources of 16 million tons (MT) at 3.55% copper. They also reported inferred mineral resources of 154 million tons […]
Copper MMI: Is The “Supercycle” Narrative For Copper Prices Falling Apart?
Although they appear on the rebound from last month’s lows, copper prices have yet to break out of their long-term sideways range. Nonetheless, following an almost 2% overall decline throughout October, prices have now retraced to their highest levels since September. For the second consecutive month, all prices within the index edged lower. That said, […]
Kazakhstan-Backed ERG Injects $800 Million to Revive Congo’s Cobalt and Copper Mine
It has the largest reserves of cobalt in the world and the 7th largest deposit of copper, making it the cynosure of the mining world. The Democratic Republic of Congo (DRC) plays a central role in the world’s rollover to renewable energy and in cobalt price movements. As a result, the central African nation surfaces in […]
