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Copper Plunge Pauses For Now
Copper prices are looking a little more buoyant today with the futures market in the green through early European trading on Friday. Still, the metal is ending June at lows and is heavily down from the YTD highs recorded in May. A shifting Fed outlook has been a big part of the decline as has weak data out of China recent. Copper futures are currently sitting around 17% lower from the May peak. On the Fed front, recent months have seen a hawkish shift culminating in the bank slashing rate cut 2024 rate-cut projections from 3 to 1 at the June FOMC. With inflation forecasts revised higher, the Fed has warned that ... (full story)
