The Copper Monthly Metals Index (MMI) moved sideways from August to September, dropping just 1.36%. Copper prices continue to trade sideways within a tight range. Amid a lack of bullish or bearish momentum, prices have failed to establish a breakout. Following a 3.34% decline throughout August, prices slid merely 0.53% during the first three weeks […]
Tag: copper MMI
Copper MMI: Current Copper Prices Sideways on Weak Manufacturing
The Copper Monthly Metals Index (MMI) moved sideways, increasing by a modest 1.09% from June to July. Copper prices appear sideways after last month’s rally faltered. After June 22, prices began to retrace, but found a bottom by the end of the month. They then enjoyed a modest rise during the first week of July. […]
Copper MMI: Will the Copper Price Rally Last?
The Copper Monthly Metals Index (MMI) fell 4.29% from May to June as the average copper price continued to show short term volatility. Copper prices ultimately rebounded after declining in May. After the start of the month, the copper price index started forming short-term patterns that showed potential upside reversal. However, price action would need […]
Copper MMI: Copper Prices Slide Despite Supply Deficit
Copper prices continued to slide this past month, although not enough to trigger a downward trend. As lower lows have yet to form, price direction remains uncertain. Copper prices will likely stay within range until a breakout or breakdown in price occurs. Such an event will likely help drive prices in a more established market […]
Copper MMI: Copper Prices Awaiting a Downturn
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 […]
Copper MMI: Copper Prices Lose Momentum
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: Copper Prices Bullish as Year’s End Approaches
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 […]
Copper MMI: Copper Price Moves Sideways Before Starting Rally
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: LME copper prices rise while maintaining a sideways pattern
The Copper Monthly Metals Index (MMI) rose by 3.5% month over month, as copper prices have continued to trade sideways. Copper prices continued to trade within a sideways range. This costs industrial buyers purchasing opportunities due to the overall risk of holding inventory in the event of sudden, volatile price fluctuations. Traders, however, took advantage […]
Copper MMI: Copper prices remain stable after Russian invasion but jump in early March
The Copper Monthly Metals Index (MMI) rose 1.7% month over month, as copper prices remained range-bound in the immediate aftermath of Russia’s invasion of Ukraine. However, copper prices have jumped to start March. Copper prices remained significantly unaffected by the conflict between Russia and Ukraine. From a mining perspective, more copper supply is scheduled to […]
