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 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