The copper market was weakened by slowing global growth before the coronavirus outbreak, but any stabilization in prices has been undermined by the decimation in demand — first in Asia and now in the west as the virus has spread. Supply shocks remain a risk as mines are shuttered due to countrywide, virus-prompted lockdowns. It is combination of such concerns and China’s emergence from hibernation that has lifted the copper price from a low of U.S. $4,375 per ton last month to around U.S. $5,000 per ton as of Thursday. Prospects for a sustained rise into the $5,000-plus range remain slim. However, a more likely ... (full story)