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 […]
Tag: Copper
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 […]
China’s Imports of Refined Copper Hit Four-Year Low
In the first half of 2023, China’s intake of refined copper saw the biggest drop in four years. The news underscores the current deceleration of the nation’s manufacturing sphere. China is one of the world’s largest buyers of refined copper. Still, it seems the country’s appetite for imports is waning. According to a report by […]
Copper MMI: Copper Prices Edge Upward As Investment Funds Increase Bullish Bets
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 […]
Demand for Copper Tempered by Innovations in the EV Market
Two firms, Goldman Sachs & Consultancy CRU Group, recently revised their forecasts for copper usage in electric vehicles (EVs). Indeed CRU Group now predicts that the average EV will use between 51-56 kilograms of copper from this year to 2030. This is a significant decrease from their previous estimate of 65-66 kilograms. Similarly, Goldman Sachs predicts […]
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. […]
Are Copper Futures REALLY as Bullish as Some Say?
We’ve all heard the story. “The green energy movement will keep copper up!.” But, realistically, how bullish is the long-term outlook for copper? Here at MetalMiner, we’ve pondered this question quite a bit. Ultimately, we’ve come to the conclusion that the copper futures indeed possess a lot of long-term potential. However, is it possible that […]
Is China’s Recovery Key to an Industrial Metal Rebound?
Some argue yes, and others argue no. Still, one fact remains certain: the West relies heavily on China when sourcing multiple metals. This includes everything from steel and copper to rare earths and lithium. Therefore, China’s slow recovery from its zero-COVID policies continues to take a massive toll on the global industrial metal trade, circulation, […]
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 […]
Metal Manufacturing News: Glencore Proposes Merger with Canada’s Teck Resources
On April 3, multinational commodity trader and mining group Glencore announced its proposal for a merger with Canada’s Teck Resources. Estimates say the metal manufacturing merger could potentially create $4.25-5.25 billion of post-tax synergy value. However, Vancouver-headquartered Teck announced its rejection of the offer on the same day. “The board of directors of Teck has […]
