Tag: copper price

Copper MMI: Is The “Supercycle” Narrative For Copper Prices Falling Apart?

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, […]

Copper Price Roller Coaster a Wild Ride in 2023: From Highs to Lows and Back Again

Copper Price Roller Coaster a Wild Ride in 2023: From Highs to Lows and Back Again Copper price

It’s safe to say that the copper price index witnessed an interesting 2023 thus far. Indeed, the market’s been volatile, so there were more than the usual ups and downs. Mid-year, prices registered a major tumble because of the fumble in China’s economy. However, soon after, they began clawing back to a respectable level. Prices […]

Copper MMI: Copper Prices Trapped in Sideways Trend as Inventories Triple

Copper MMI: Copper Prices Trapped in Sideways Trend as Inventories Triple

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 […]

Copper MMI: Copper Prices Edge Upward As Investment Funds Increase Bullish Bets

Copper MMI: Copper Prices Edge Upward As Investment Funds Increase Bullish Bets Copper wire raw materials recycling industries

The Copper Monthly Metals Index (MMI) rose 3.79% from July to August. Copper prices started to show uncertainty last month amid an absence of directional strength. A lack of bullish or bearish patterns that would otherwise drive prices translated into minimal momentum to the upside or downside. Copper prices today continue to move in a […]

Copper MMI: Current Copper Prices Sideways on Weak Manufacturing

Copper MMI: Current Copper Prices Sideways on Weak Manufacturing Copper smelting at a metallurgical plant

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?

Copper MMI: Will the Copper Price Rally Last? copper-5

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 […]

Democratic Republic of Congo Replaces Peru as the Second Largest Copper Exporter

Democratic Republic of Congo Replaces Peru as the Second Largest Copper Exporter screenshot-2023-06-06-at-3-39-52-pm

There’s a new kid on the block in copper production. Media reports say the Democratic Republic of Congo (DRC) continues to put up a tough fight against Peru, the world’s second-biggest copper producer. If the latter does not square up, expects feel the DRC may end up taking its #2 title. Of course, such competition […]

Copper, Priced for Recession

Copper, Priced for Recession production-of-copper-wire-bronze-cable-in-reels-at-factory

At least that’s what the Financial Times reported Goldman Sachs saying this week with regard to the price of copper. The bank also revised its forecast for the average copper price to $8,698 per metric ton, down from $9,750. According to a NASDAQ post, copper prices touched a six-month low this week as speculators increased short […]

Copper MMI: Copper Prices Slide Despite Supply Deficit

Copper MMI: Copper Prices Slide Despite Supply Deficit copper-4

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 Prices Turn Upward, but Will the Trend Continue?

Copper Prices Turn Upward, but Will the Trend Continue? copper-rods-of-round-billets-various-diameters-in-warehouse

In recent weeks, the copper market has taken an upward turn. However, many are curious whether or not copper prices today will continue this uptrend. Copper rose in December 2022 due to low inventories and hopes for recovery after China lifted zero-COVID restrictions. After that rally finally cooled down in January, prices appeared to finally […]

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