• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 hours "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 1 day ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 2 hours Wind droughts
  • 7 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 14 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days Xi Is Set To Be Re-Elected As China’s Leader
  • 11 days Oil Prices Fall After Fed Raises Rates
  • 2 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 1 day Australian power prices go insane
  • 12 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 1 day Europeans and Americans are beginning to see the results of depending on renewables.
Ag Metal Miner

Ag Metal Miner

MetalMiner is the largest metals-related media site in the US according to third party ranking sites. With a preemptive global perspective on the issues, trends,…

More Info

Premium Content

Copper Prices Remain Resilient As Uncertainty Persists

  • Bearish and bullish catalysts are fueling volatility in copper prices.
  • Smelter shutdowns have sparked some supply chain concerns in the copper industry.
  • China’s property crisis has eroded demand for copper.

Via AG Metal Miner

The copper industry showed resilience through many market challenges throughout 2022. Despite dropping prices and demand, copper continues to fight against obstacles ranging from Europe’s energy crisis and smelter shutdowns to China’s property crisis and shrinking demand. As MetalMiner noted earlier this month, copper markets do remain particularly volatile. And while prices traded sideways in MetalMiner’s September Monthly Metals Index, the potential for future price increases remains high.

Copper Within Resistance Zones for The Moment

Copper experienced its fair share of ups, downs, and growth over the past two years. Despite this, recent price action saw copper breaching its short-term ranges. This caused a long-term resistance and demand zone to solidify, which made it appear that copper will continue the decline or reverse back to the upside at historical ranges.

In terms of manufacturing, copper markets have recently dealt with smelter shutdowns in places like China. However, demand for copper in places like Europe, where energy remains in short supply, has dropped. All of these factors seem determined to keep the copper market in volatile territory.

Copper Prices and Inventory Levels

With low demand for copper across Europe, many companies find themselves with an excess of copper inventory. For example, warehouses approved by the LME watched stocks surge over the past few months. The strong U.S. dollar only complicates this further by making these commodities more expensive for holders of other currencies, subduing demand.

Inflation also continues to impact commodity markets as a whole, copper included. After a recent U.S. report indicating that core inflation remains on the rise, copper dropped in price. This also raised fears there will be another interest rate hike by the Fed, which could cause buyers to stock up even more.

By The MetalMiner Team

More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment
  • George Doolittle on September 21 2022 said:
    Very wary of a wave of Lawsuits against the pure BEV Industry at the moment given very dangerous to both service and of course there are massive costs associated with bricked BEVs.

    The economics is very important to explain as known *AND* understood as well as I think few if any understand in the least. Anyhow in good news for US economy no Railroad Strike. That does support a price for oil that is less than zero imo.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News