The copper price firmed on Wednesday as the dollar dipped on lower-than-expected US inflation figures, which softened expectations for stimulus to be tapered soon.
Copper for delivery in December rose 2.3% from Tuesday’s settlement price, touching $4.422 per pound ($9,728 per tonne) midday Wednesday on the Comex market in New York.
Copper and other base metals were mostly trading on macroeconomic factors such as the US inflation which lowered the likelihood of the Fed withdrawing liquidity soon, said Saxo Bank analyst Ole Hansen.
Copper price up on weak US inflation
- by: MINING.COM Staff Writer
- September 16, 2021
- Source:
DYNAMIC WEALTH RESEARCH
- 10/27/2022
Industrial Photography: Copper Wires-002 by Flavio~ is licensed under CC BY 2.0
Industrial Photography: Copper Wires-002 by Flavio~ is licensed under CC BY 2.0
