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Copper Investing News reports copper prices have rallied at 80 per cent this year on the back of Chinese State Reserve Bureau (SRB) purchases. If China’s purchases grind to a halt, so will the red metal’s rally. So far, copper’s ascent has been a China only story- that has overshadowed weak demand elsewhere in the world. The metal …
Copper Investing News reports copper prices have rallied at 80 per cent this year on the back of Chinese State Reserve Bureau (SRB) purchases.
If China’s purchases grind to a halt, so will the red metal’s rally. So far, copper’s ascent has been a China only story- that has overshadowed weak demand elsewhere in the world. The metal for delivery in three months was trading at $5,470 a tonne on July 28th. On the New York Mercantile Exchange’s Comex division, copper futures climbed to a nine-month high of $2.579 a pound.
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