FXManny

Copper outlook for the coming months and 2017

Short
FX:COPPER   CFDs on Copper
Copper at the moment is going through high levels of supply and prices have plummeted to weekly lows. Demand may be weakening in China, the world's largest consumer, as stocks of metal flow out of the country to warehouses elsewhere in Asia. Therefore, we have a supply glut and copper price in the future doesn't look very promising. Stocks of Copper on the LME are now at their highest levels since October2015. There is also possibility for the copper market to tighten due to reduction in investments in new mines. Momentum in China is starting to stall and people are starting to off load the metal in other markets.