Search
Close this search box.

NEWS

China stainless steel factory

COMEX copper futures have risen for three consecutive days, hitting a three-month high

On Monday, the copper futures market at the Chicago Mercantile Exchange (COMEX) once again showed a strong upward trend, marking the third consecutive rise in four trading days. The steady climb in copper prices not only reflects optimistic market expectations for future demand but also indicates potential supply tensions.

According to closing data, copper futures prices rose by 3.45 to 3.75 cents. Among them, the most actively traded May 2024 copper closed at $3.9285 per pound, up 3.7 cents from the previous trading day, an increase of 0.95%. This price level not only refreshed recent trading records but also reached the highest point since December 27 last year.

During the trading process, the price fluctuation range of May copper remained relatively stable, maintaining between $3.8785 and $3.93. This stable performance in the price range further demonstrates the vitality of the copper market and investors’ confidence in the copper price trend.

The continuous rise in copper prices is influenced by multiple factors. On the one hand, the gradual recovery of the global economy and the accelerated progress of infrastructure construction have brought strong demand support to the copper market. On the other hand, uncertainties in the supply side, such as mine production interruptions and smelter output restrictions, have also further pushed up copper prices.

It is worth mentioning that at least 15 Chinese smelters’ executives will gather in Beijing this week to discuss how to deal with the issue of falling copper concentrate treatment charges. This event undoubtedly brings a new focus to the copper market. The production restriction measures that smelters may take will directly affect global copper supply and thus affect the copper price trend.

Despite the current upward trend in copper prices, the market still needs to remain vigilant. Uncertainties in global economic growth, changes in trade policies, and advances in smelting technology, among other factors, may potentially impact the copper market.

New Center

More Posts

Say “NO” to foreign high-price monopolies! The core technology of the laser probe series has been independently controlled by domestic manufacturers!

Since 2010, Leimu Company has always adhered to the core concepts of technological innovation and precision manufacturing, committed to the independent research and development of metallurgical probes, and successfully launched a series of products including oxygen-determining probes, auxiliary gun probes, grenade-type probes and hydrogen-determining probes. A variety of high-quality probe products. With its profound accumulation

Send Us A Message

CONTACT US

Let's have a chat