© Reuters
MCU
-0.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
MANc1
+0.88%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
MZN
+0.66%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
Copper prices have soared to $8,333.50 per ton today as investors’ confidence is bolstered by the prospect of an end to the Federal Reserve’s interest rate hikes. The sentiment has been fueled by recent U.S. economic indicators suggesting a slowdown, which could potentially halt the aggressive monetary tightening that has been in place.
This optimism in the market is a continuation of last week’s performance when copper recorded significant gains on the London Metal Exchange. Investors are reacting to the evolving economic landscape, with signs pointing towards a more cautious approach from the Fed in response to domestic economic signals.
The positive outlook for copper also aligns with broader gains in other metals, with aluminum and zinc both experiencing increases exceeding 1%. This trend reflects a wider advance in Asian stock markets, where indices such as Japan’s Nikkei 225 have reached their highest levels in over three decades.
Last week in Shanghai, industry experts at a key copper conference expressed mixed sentiments. Although there are concerns about potential short-term oversupply, the long-term outlook remains robust due to anticipated market constriction and strong demand. In response to these dynamics and tight concentrate supplies, some Chinese smelters agreed to lower treatment charges during crucial raw-material supply discussions.
The current rise in copper prices is indicative of a commodities market that is closely attuned to macroeconomic developments and central bank policies. As the market anticipates a shift in Fed strategy, commodities like copper are reflecting this change in investor sentiment, translating economic forecasts into tangible market movements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Source: Investing.com
