Copper’s volatility with an upward trend has continued into 2017, gaining momentum after gradual increases in 4Q 2016. A resurgence in energy as well as labor unrest at Chile’s Escondida copper mine helped support a surge in early February. Traders are tending to support current values, although the copper futures market is not convinced of the strength behind the resurgence. Copper looks to follow other commodity markets in an unsettled world economy. China remains the world’s largest red metal consumer and this, too, supports continued price increases in the months and years ahead.
Copper tube & fittings report: February 2017
February 6, 2017