copperexploration
Coming off a volatile 2023, copper started the new year trading in the US$8,000 to US$8,500 range in January and February. However, the red metal saw significant gains starting at the end of February and through March as news of production cuts from Chinese smelters began to make headlines. The cuts came as supply for concentrates became tight, sending treatment charges to their lowest point since 2010. The results of the cuts pushed the price of copper on the London Metal Exchange to a quarterly high of US$8,973 per metric ton (MT) on March 20. The price has continued to see gains and reached...
Investing News Network
Copper is the third most-used metal in the world, and experts believe demand for this important commodity is set to rise in the coming years. At the same time, the supply situation is expected to tighten up. For that reason, market watchers may be asking, “When will copper go up?” The general consensus is that while prices may not break out in the near term, they will rise once the market truly starts to enter a deficit. This is already being seen in 2024 as copper prices climb. “Most analysts are modeling growing deficits in the copper market balance by 2027-2028, with a near-term forecast (2...
Investing News Network
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