Copper is an essential industrial metal used worldwide. Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production. The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD.
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HG1!There’s a general sense of malaise surrounding much of the metals market this week so far as copper gets brought down by China woes.
HG1!Industrial metals continue to trend higher as recent 2022 lows become but a distant memory to copper futures amid the looming threat of strikes.
HG1!The papers may be filled with oil and energy updates atm, but elsewhere the precious metals market is struggling through multi-year lows.
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