Copper Daily Price Recap
The back and forth price flow continues for Copper, which started today off at 3.012 US dollars, up 0.3% ($0.01) from the day prior. On a relative basis, today was pretty good: Copper bested all 5 of the assets in the metals class 🙂 Let’s take a look at the daily price chart of Copper.
Copper Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 11 out of the past 14 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Copper:
- From Guv999:
CVV requires may be an Ore sorter to improve the grades which is not difficult IMO.
At copper price of say USD 6.00/lb in 2024 , CVV Copper Project shd have an NPV ard 5.00 Bil. Dollars. Throw in the Mo, Gold assets ( which we will discuss ), NPV shd be ard 5.50 Bil. Dollars.
- From mistersum:
#ARS looks like a technical trend reversal in play now. Higher lows and higher highs. A massive disconnect with the copper price too should see the sp build as investors realise what’s in play here. A sniff of a good deal with AE should see the price double at least 👀 #copper
- From Jose65419180:
@chiragmj0808 @onlyyoontv Copper price hits two-year high, and iron ore demand has a 6-year high. Who’s buying it? China. If the economy is not recovering, why the demand for the raw material is so high?
For a longer news piece related to HG1 that’s been generating discussion, check out:
Construction demand sent the price of lumber soaring: About 25% of the copper demand comes from construction….At that rate, the full year of EV sales will eat up about 150,800 metric tons of copper….One windmill can use up to 6.4 metric tons of copper per megawatt….The author was not paid by Streetwise Reports LLC for this article….Streetwise Reports was not paid by the author to publish or syndicate this article….Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.