The Copper Journal Price & Inventory Chart From The Last Two Decades - July 2009
Read here for an
updated price and inventory chart from The Copper Journal.
Copper rose for the seventh consecutive month, driven by investor and speculative demand, further signs of economic recovery, and a weaker dollar. During July, copper averaged $2.3855 on Comex, up 10.21¢, or 4.5% from $2.2834 in June, but was off $1.3739, or 36.5% from $3.7594 last July.
On a year-to-date basis, the average stands at $1.9319, off $1.7489, or 47.5% from $3.6807 during the first seven months of 2008. On a Spot basis, copper closed July at $2.6165, representing a near 50% retracement of the loss that occurred in the second half of 2008. Inventories held in Comex and LME warehouses rose 10,753 MT, or 3.4% during July to 330,948 MT, and are up 182,345 MT, or 123% from 148,603 MT held in warehouse last July.
See below for a chart covering 1988 through July 2009.
Copper rose for the seventh consecutive month, driven by investor and speculative demand, further signs of economic recovery, and a weaker dollar. During July, copper averaged $2.3855 on Comex, up 10.21¢, or 4.5% from $2.2834 in June, but was off $1.3739, or 36.5% from $3.7594 last July.
On a year-to-date basis, the average stands at $1.9319, off $1.7489, or 47.5% from $3.6807 during the first seven months of 2008. On a Spot basis, copper closed July at $2.6165, representing a near 50% retracement of the loss that occurred in the second half of 2008. Inventories held in Comex and LME warehouses rose 10,753 MT, or 3.4% during July to 330,948 MT, and are up 182,345 MT, or 123% from 148,603 MT held in warehouse last July.
See below for a chart covering 1988 through July 2009.
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