As of this week, you're crying the blues if you invested in copper over the past month. Copper futures fell to around $4.15 per pound on Tuesday, hovering at the lowest levels since early April amid concerns about demand from top consumer China. Last week, data showed that China’s economy grew less than expected in the second quarter, while economic indicators for June were mixed. On the supply side, copper inventories in LME warehouses rose to the highest since September 2021, while those in bonded warehouses in China reached the highest since May 2023.
Copper, as you might know, is a multi-year megatrend NOT a one year, one month or one week trade. Volatility in any high growth commodity sector is to be expected. Moreover, lower prices might represent an interesting entry point for investors with a longer-term outlook. Not advice, just a few observations. Thanks for watching!
Thank you.
As of this week, you're crying the blues if you invested in copper over the past month.
Copper futures fell to around $4.15 per pound on Tuesday, hovering at the lowest levels since early April amid concerns about demand from top consumer China. Last week, data showed that China’s economy grew less than expected in the second quarter, while economic indicators for June were mixed.
On the supply side, copper inventories in LME warehouses rose to the highest since September 2021, while those in bonded warehouses in China reached the highest since May 2023.
Copper, as you might know, is a multi-year megatrend NOT a one year, one month or one week trade. Volatility in any high growth commodity sector is to be expected. Moreover, lower prices might represent an interesting entry point for investors with a longer-term outlook. Not advice, just a few observations. Thanks for watching!