Continued geopolitical tensions in the Middle East and rising oil prices contributed to the outflow of investment demand in the metals market. At the same time, maintaining an elevated key rate in the United States has a negative impact on long-term market forecasts. However, the probable completion of the hawkish cycle in US monetary policy is contributing to the growth of investment demand and supporting copper quotes.
On the London Metal Exchange (LME), the average price for copper decreased by $25/t compared to the previous period, to $7,908/t. However, during the week the dynamics of quotes were multidirectional. Compared to last week, copper prices on the LME rose by $46/t to $7,937/t.
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