April 25, 2018 Uncategorized No Comments

After the Trump report on tariffs in Europe where it affected steel, aluminum also failed to negatively affect the copper market as its demand is steadily declining.

A reason for declining demand and increasing reserve available is North America copper mines, increased sales by 2.4% per annum to 384 million pounds, Freeport expects sales of copper from North America to reach 1, 5 billion pounds in 2018.
Similarly, in South America, copper sales declined by 6.1% compared to the previous quarter. Freeport also expects a £ 1.2 billion increase in sales to be announced in 2018.
Still in Indonesia, copper sales rose by £ 319 million, compared to the previous quarter at £ 125 million.
With the increase in mining, the price of copper is justifiably reduced and the market is getting more and more heavy.
Practically this is as follows: From March to 16/3/18, the index declined, but daily at the closure of the sessions it was corrected. From 16 to 26/3/18 the index declined steadily with the price being at $ 6551 per tonne. In those days, up to the twenty-eighth of March, the reserve available was rising. This increase is recording an increase of 18%.
At the beginning of April, the red metal is on the rise and continuously decreasing the reserve, which is characterized as a possible sale on the markets. The index value is recorded in the metal table at $ 6986.75 per tonne, with its rise from early April at 3.7%.χαλκος

Written by Theodoros Vichos