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Copper Price Hits 10-Year Highs as Demand Pressures Push Price Above $4/Pound

From investingcube.com

Copper prices have hit a 10-year high, after concerns that supplies will tighten further when the world recovers from the coronavirus pandemic. Copper prices have nearly doubled since the March 2020 crash, fueled by recovering demand from China and supply shortfalls that have arisen from several strikes in the world’s top producers. Copper inventories at the LME warehouses continue to remain stretched, and with the Chinese New Year now ending, expanding coronavirus vaccinations look set to continue fuelling a faster-than-expected global economic recovery. Copper prices are on course for a 3rd straight winning ... (full story)

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  • Category: Technical Analysis