Copper on track for another weekly gain

Copper prices in London were on track for a second consecutive weekly gain on Friday, helped by efforts to support the property market in top metals consumer China, a weaker dollar and improved risk appetite in financial markets.

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Copper prices

Base Metals: Copper prices Skids to lowest in a month as investors reduce risk

Base Metals: Copper prices have dropped 0.35% this week however they will now be at 4 pyo per pound. Gold and silver had also risen from covid-lows to $9,700 metric tonne in New York. The bellwether has been fuelled by a widely-held belief that demand for it should be heavily supported by the economic post-pandemic boom but also by the worldwide push to decarbonise.

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Copper

Copper Prices CMCU3 Have Extended Their Sharp Recovery

Copper prices CMCU3 have extended their sharp recovery last week from the March lockdown lows of $4,371 to $7,973.5 a tonne, the highest since February 2013, buoyed by China’s solid demand and hefty investments by speculators amid monetary policy easing. views the current prices do not reflect fundamentals and the rally has been overdone.

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MCX Copper (Oct) Weaker Below ₹455, Any Rise Fresh Selling; Down Side Support ₹430

BASE METAL TIPS – MCX Copper settled down 0.11% at 440.85 as China’s factory activity is expected to have contracted for a fifth straight month in September. Pressure also seen after the release of a whistleblower complaint against U.S. President Donald Trump added to uncertainties about the global economy, already reeling from the China-U.S. trade war.

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