It’s becoming pretty clear, at least to us, that the world is going to look much different on the other side of this crisis. Diminished global supply chains and more nationalism. Slower growth and higher inflation. The speed and trajectory will depend on the outcome of the November presidential election. Macron’s full address for those … More “The European Union borders and the Schengen borders will be closed”
Copper prices are down 17 percent since their Jan 16th 52-week high with no technical support in sight until $2.00 per pound, down another 16.6 percent from today’s close.
Copper prices hit a three-week high this morning as China, the world’s largest copper consumer, lowered a key interest rate to cushion the impact from the coronavirus outbreak. China’s central bank lowered the rate on a one-year medium-term lending facility (MLF) loans. Policymakers said on Saturday Chinese lenders will tolerate a higher level of bad … More Copper Prices Bounce On China Stimulus
China's share of global consumption today, relative to its level when SARS hit (via BCA Research) pic.twitter.com/3XR3szxhSq — Mike Bird (@Birdyword) January 30, 2020
Copper prices are on track for the biggest weekly drop in nearly 19 months amid worries over a new coronavirus in China. Copper futures are down over 7 percent in the past week and WTI Crude down more than 17 percent since its Jan 8th high. “The pressure on the metals complex should be somewhat … More Copper & Oil Prices Hammered On Coronavirus Fears
The price of copper, a key barometer for the global economy, is set to move higher in 2020 with capital spending for new production depressed and inventories tapped out as U.S.-China trade tensions ease. The U.S-China trade war limited mining activity and kept manufacturer inventories lean. Warehouses tracked by the three international exchanges, the … More Copper Prices Set To Move Higher In 2020