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Copper Supply Disruptions Fuel Market Uncertainty
Copper prices saw a 1.90% increase during the final month of the year. By late December, this managed to bring them to their highest level since August, leading to mixed copper price forecasts for 2024. However, prices began to retrace from their 5-month peak by the start of 2024. By mid-January, they remained trapped within their long-term sideways trend. Overall, the Copper Monthly Metals Index (MMI) moved sideways, with a 1.34% increase from December to January. As copper prices continue to trade sideways, the market sits within its deepest contango since the early 1990s. Indeed, the LME primary cash copper price ... (full story)