• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • NORTH AMERICA EDITION
      Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • NORTH AMERICA EDITION
      North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    copper investing

    Copper Climbs to 16-month High: Nov 2016

    Pia Rivera
    Nov. 23, 2016 05:45PM PST
    Base Metals Investing
    Copper Investing

    Copper prices have soared to $2.62 a pound on the COMEX — the highest since July 2015.

    Copper prices have soared to $2.62 a pound on the COMEX — the highest since July 2015.
    According to Bloomberg, copper’s relative strength index shows that the rally has gone too far. Analysts continue to be skeptical about the rally, citing that the combination of US President-elect Donald Trump’s promise of an increase in infrastructure spending, and China’s positive economic data, may be the reason why copper is trending upwards.

    Copper Price Chart

    Further, The Wall Street Journal cites that the price of oil inching upwards “sometimes sway copper prices.” Oil was up by 4 percent at the beginning of the week, with brent crude oil at $49 a barrel.

    Trump’s infrastructure vision

    Aside from building a physical wall between the US and Mexico, Trump’s “America’s Infrastructure First” policy is set to support construction, steel manufacturing, and other sectors to build the transportation, water, telecommunications and energy infrastructure. It is in this light that The Wall Street Journal noted that Trump’s infrastructure investment bodes well for copper.

    Too much, too soon?

    In a recent conversation we had with Rick Rule, he mentioned that he thinks the copper rally is a false one, and that the recent price moves “were a response to the fact that the industry’s productive capacity had been diminished.” David Morgan echoes the same sentiment, saying that he is waiting for, “a larger increase in the copper price out of the range it’s in right now.”
    In an interview with Bloomberg, Wood Mackenzie’s Julian Kettle says that the red metal can still continue to be a leading indicator, but “the fundamentals are not supportive of a significant run up in prices.” Kettles cites that there is too much supply coming on, or risks around that supply.
    Goldman Sachs, in a research note, says copper prices have rallied “too much too soon,” and expect a decline in price to C$5,000 per ton on a 3-month view. The note continues to say that they expect Chinese global copper demand to slow down in the near term as Chinese property policies tighten.

    Don’t forget to follow us @INN_Copper for real-time news updates!
    Securities Disclosure: I, Pia Rivera, hold no direct investment interest in any company mentioned in this article.

    pia riverachinarick ruledonald trumptrumpcopper investingbrent crude oildavid morgan
    The Conversation (0)

    Go Deeper

    AI Powered
    Copper Price Update: Q1 2021 in Review

    Copper Price Update: Q1 2021 in Review

    Copper Hovers around Nine-Month Lows

    Latest News

    Juggernaut Samples up to 256.60 g/t Or 8.25 oz/t Gold and Identifies 4 New Gold-Rich Zones that Remain Wide Open and are Drill Ready within the Highway of Gold Corridor on the Big One Property, Golden Triangle, B.C.

    Sun Summit Drills 78.0 Meters of 3.72 g/t Gold Including 19.1 Meters of 7.50 g/t Gold at the JD Project, Toodoggone District, B.C.

    Trading Halt

    Shallow High-Grade Gold Intercepts Confirm Growth Upside

    Notice of General Meeting

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    Empire Metals

    EPMLF

    Corazon Mining

    CZN:AU

    Blackstone Minerals

    BSX:AU

    Osisko Metals: Pure Potential

    OM:CA

    Los Andes Copper

    LA:CA

    Questcorp Mining

    QQQ:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×