The bottom line: The global economy seems to be slowing, which could take some of the pressure off of supply chains - and by extension prices, such as those of copper. Copper," in reference to its supposed acumen at calling economic turning points, something actual Ph.D. Copper Price - Market Update For the year ended December 31, 2018, spot copper prices averaged 2.96 per pound, representing an increase of 5.8 compared to. Tracking the daily Comex pricing over time can help inform and optimize your purchasing decisions. Let's nerd out: Markets geeks sometimes refer to the metal as "Dr. The downturn in copper confirms other indicators of weakness in the world's second-largest economy, which has been hard hit by COVID-related lockdowns in massive economic centers like Shanghai and Shenzhen.Lower prices are traditionally viewed as a sign of softness. Why it matters: Copper prices are widely seen as offering a useful reading on the health of global industry, especially China's factory and construction-heavy domestic economy. Copper rises from multi-month lows as upbeat sentiment lifts base metal. The average year-to-date price as of May 20 was 8,915, which means the forecasts do not reflect an expectation of further increases over the. Copper hits five-week high after US data undershoots, dollar slides. The consensus forecast from three leading sources (IMF, World Bank, and the Australian Government) for 2021 is 8,357. Futures prices for the metal - used in the wires in everything from cars to houses to electronics - are down roughly 13% this month. () Copper prices reached an all-time high of 10,512 per metric ton on May 9, marking a 130 growth since March 22, 2020.Copper prices are down sharply this month, yet another sign that the outlook for global growth is softening, especially in China. Metals we accept include steel, copper, brass, stainless steel, aluminum, lead, and batteries.
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