An increase in London warehouse copper stockpiles and concerns about macroeconomic growth supported a drop in US copper futures. Copper down on global economic concerns after German data showed business confidence declined to its lowest level in almost three years. Find the entire article here.
Crude oil’s rebound allowed for a more stable environment for energy resources including US copper futures, which saw a slight increase at Monday’s start. With oil bouncing back to $130 after inconclusive Iran talks and gold inching back over $965, the ‘safe haven players’ may be adding back some metals longs recently liquidated.” – RBC [...]
China’s continued stockpiling of copper continues to impact US copper futures which fell 1 percent in value on Friday. Copper’s morning losses attributed to a 13 percent build in Shanghai copper stocks and Chinese data showing higher production of the red metal. View the full article here.
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