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Copper rally extends to near two-year high

From home.saxo

Copper and copper mining stocks continue to push higher with the futures prices in New York and London reaching levels last traded in June 2022. For the past two years, Dr. Copper aka the King of Green Metals has traded mostly sideways, navigating relatively unscathed through rough seas created by sharply higher funding costs as central banks around the world hiked interest rates to combat inflation, and not least a slowdown in China, the world’s top consumer of copper. During the past couple of months, the metal has steadily climbed, buoyed by global growth and demand optimism, and material downgrades to 2024 mine ... (full story)

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  • Category: Fundamental Analysis