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Copper Capped As Oil Surges
Copper Rally Pauses For Now Copper prices remain on watch through the back of the week following the sharp rally we saw on Tuesday which pushed copper futures up by almost 4% on the day. The move has stalled for now into the 6.5830 level, but the backdrop remains bullish and focus is on a further push higher. Copper premiums in China have ballooned recently as warehouse inventories continue to get run down leading to a jump in import demand. This jump in demand comes at a time when output in Chile, the world’s leading producer of copper, has fallen to multi-year lows due to a string of factors such as ongoing ... (full story)
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