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 […]
Tag: copper prices
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 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 MMI: Copper Prices Fall to Lowest Level Since November 2022 Amid Surplus Forecast
Although some moved sideways with more modest declines, all components within the overall index saw copper prices trade lower during the month. As a result, the Copper Monthly Metals Index (MMI) declined 2.34% from September to October. Subscribe to MetalMiner’s free weekly newsletter now and generate the most ROI possible within falling copper markets. Copper […]
Copper Price Roller Coaster a Wild Ride in 2023: From Highs to Lows and Back Again
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
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: 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 […]
Democratic Republic of Congo Replaces Peru as the Second Largest Copper Exporter
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 […]
China and Peru Place Drag on Copper Prices
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 […]