Industrial Insight

Copper | February 14, 2017

Copper Prices, MMI Up As Supply Disruptions Bring Upside Potential

by Raul de Frutos on FEBRUARY 7, 2017
Style:Market AnalysisCategory:Commodities, Metal Prices, MetalMiner IndX, Non-Ferrous Metals, Premium

Copper prices rebounded to a 6% increase in January. The combination of a falling dollar and a potential work stoppage at the world’s largest copper mine lifted prices to test the psychological level of $6,000 per metric ton.

Base metals looked more bullish in January and strong Chinese data is no doubt driving that. China’s PMI was in growth territory for the seventh consecutive month. Here in the U.S., President Donald Trump signed executive orders to continue progress on two key energy pipelines, making good on his campaign pledge to rebuild the nation’s infrastructure.The new president also broke with protocol and expressed a desire for a weaker dollar.

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About author

I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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