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Copper Holds Nine-Year High as Metal Hits Pause Button

From earnforex.com

Copper futures are hitting the pause button on their incredible 2021 rally, although they continue to hold at a nine-year peak. The industrial metal is joining the drop in the broader financial markets, mainly from profit-taking and waiting for news on US fiscal stimulus. But positive economic data and strengthening Chinese demand might suggest that this is merely a minor drop in a long-term bull market. March copper futures tumbled $0.0345, or 0.9%, to $3.7995 per pound at 14:41 GMT on Wednesday on the New York Mercantile Exchange. The red metal has advanced about 3% over the last week, adding to its year-to-date ... (full story)

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  • Category: Fundamental Analysis