The Copper price rose by more than half a percent on Friday. Prices were supported by a slight weakening of the US dollar, while markets appreciated weak near-term demand and continued concerns about long-term deficits. In addition, copper production was supported by supply-side issues such as the forced closure of
The Copper Price saw a speculative jump in reaction to the central bank policy of the ECB, BOE and FED. This caused huge volatility in the respective currencies. The main driver of the recent recovery has been the dollar, which fell to a four-month low yesterday. The dollar fell to
Copper price has been struggling to gain since this morning today. China’s efforts to boost its economy and property sector sparked demand optimism in the world’s top metal consumer, which lifted some support initially in the week. However, prices retreated on profit taking amid higher inventories. Copper futures rose 1%
It’s the 21st of November, ahead of the FOMC statement tonight and also the OPEC+ meeting on Sunday, the commodity market is in for a wild ride. So what will be the commodity market news like in such situations? Well, let’s dive in and understand what’s in store for traders.
The latest copper market news is in and copper prices witnessed some strength yesterday. U.S. dollar posted some losses after the Federal Reserve kept interest rates unchanged supported in recent gains, along with concerns over supply disruptions. The dollar fell broadly against its major counterparts, with risk-sensitive Asia-Pacific current cities
Copper prices struggled, and retreated slightly today. As cautious trading noted ahead of key Chinese economic readings due on Wednesday. Copper futures fell 0.5% to $3.5648 a pound. MCX copper down 0.30% at 696.00. Adding to this, Chinese copper supply is abundant due to high production and imports in September.
Copper prices plunged towards lowest levels in over four months as concerns of high interest rates from the Federal Reserve hampered the demand outlook for metal prices as per the latest copper market news. Copper prices plunged to their lowest levels in four month. Prices took a steep fall on
Copper mcx prices have witnessed more than two and half percent weekly drop last week. Prices plunged near to its July 2023 low, as strong dollar, high inventories weighted down the sentiment. The U.S. dollar currency index jumped above its sixth month high against its major counterparts, as after
Comex Copper trading in a range as focus remained on more upcoming economic data from the U.S. and China. Adding to this, the US dollar retreated from the day’s high as markets considered that the recent inflation numbers are not sufficient in convincing the Federal Reserve to hike rates next
Copper prices moved higher from its three-week low as the dollar retreated from a six-month high before key U.S. inflation data. Further, a hope that the worst had passed for China’s economy. Red metal found some relief from the last two days as the dollar retreated from a near six-month
