Copper prices continue their dynamic upward march, with futures contracts for this commodity rising by approximately 2% today.
Their current level is now just 2.6% below the historical maximum. This is an extension of a strong upward trend that has been ongoing for two weeks, during which copper has increased by over 8%.
The primary source of the current movement is the persistently high demand for raw materials, accompanied by significant supply-side pressure. The market is increasingly pricing in the limited availability of the metal, which is driving the current wave of growth.
It cannot be ruled out that the observed trend partially reflects expectations of an improvement in the economy and industry, although at the current stage, supply-demand factors remain the main driver of the increase.
COPPER (D1)
Source: xStation5
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