Daily Copper Price Tracker with Vanessa Clark
https://www.instagram.com/vanessaclarkipai This is your Copper podcast. Hey friends, Vanessa Clark here, and this is the Daily Copper Price Tracker, where we break down what is happening in the copper market in just a couple of minutes. Let us start with the latest copper prices. According to Investing dot com, benchmark copper futures are trading around 6.18 dollars per pound. Trading Economics reports a recent drop of just over 2 percent, with prices slipping to roughly 6.14 dollars per pound at one point, the lowest in nearly two weeks. On the London Metal Exchange, MetalMiner notes that copper has recently been trading well above 14,000 dollars per metric ton, although prices have pulled back from recent record territory. In India, the Economic Times shows MCX copper futures around 1,338 rupees per kilogram, down about three quarters of a percent in early trade. So what is behind this latest move in copper prices? Trading Economics reports that a global risk off mood has hit industrial metals as investors react to geopolitical tensions in the Middle East and elevated oil prices. Higher energy costs are feeding inflation and boosting expectations for more interest rate hikes, and that tends to weigh on commodities like copper. Weak economic data from China is another key factor. A recent analysis highlighted on YouTube points out that Chinese retail sales and industrial production both missed expectations. Since China is the world’s largest consumer of copper, softer demand there quickly shows up in futures prices. What can you take away from all this if you are a buyer or an investor watching copper? MetalMiner suggests focusing less on single day headlines and more on trading ranges and a disciplined plan. That means tracking both exchange prices and your actual purchase prices together, avoiding all in buying decisions, and staggering your purchases so you are not exposed to one bad price point. That is it for today’s Daily Copper Price Tracker with Vanessa Clark. Thanks for listening, make sure to subscribe, and tune in next time so you always know where copper is trading and why it is moving. For more http://www.quietplease.ai Check out Vanessa on Instagram https://www.instagram.com/vanessaclarkipai For some deals, check out https://amzn.to/4hSgB4r
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