Copper weekly

Today my update on copper.

I follow this metal for a long time now, not only professionally because my company is using this metal for making electrical panels for various drive systems, but also because it is one of the major indicators for the global economy.

The last months we see this metal moving sideways, like silver and gold.

Last week we noticed an increase in the copperprice after positive negotiations between the Chinese an US government during the G-20 summit in Argentina.

However the price dropped days later to the familiar level of around $ 2.74 so we continue in a sideways pattern. This price drop is caused by the fact that global economy is taking hard hits on the exchange markets, bringing uncertainty over global market predictions for the near future. Also the arrest of the CFO of Huwawei is starting to bring fear over a constructive solution between China and the USA in resolving the tariffs issues.

The fact that the copper price reaction was so positive on the G-20 negotiations, is telling me that when the issues regarding the tariff wars are solved, we could see a large upwards potential in the copper prices.

Enjoy!