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Copper Rallying on China Demand Boost & Fed Outlook
Following a period of heavy stagnation over the last week, copper prices are pushing higher today. The futures market is trading back up towards the 4.3000 August highs amidst signs of improving demand in China and a boost from the latest US inflation figures. In China, data shows copper inventories in Shanghai have been falling again in recent weeks following a heavy buildup over July. Market chatter is pinning the recent inventories draw to a surge in demand from electric vehicle makers. A weaker demand outlook in China has been one of the major headwinds for copper bulls this year and signs that demand might now ... (full story)
