Copper prices have soared to $8,333.50 per ton today as investors’ confidence is bolstered by the prospect of an end to the Federal Reserve’s interest rate hikes. The sentiment has been fueled by recent U.S. economic indicators suggesting a slowdown, which could potentially halt the aggressive monetary tightening that has been in place.
This optimism in the market is a continuation of last week’s performance when recorded significant gains on the London Metal Exchange. Investors are reacting to the evolving economic landscape, with signs pointing towards a more cautious approach from the Fed in response to domestic economic signals.
The positive outlook for copper also aligns with broader gains in other metals, with aluminum and zinc both experiencing increases exceeding 1%. This trend reflects a wider advance in Asian stock markets, where indices such as 225 have reached their highest levels in over three decades.
Last week in Shanghai, industry experts at a key copper conference expressed mixed sentiments. Although there are concerns about potential short-term oversupply, the long-term outlook remains robust due to anticipated market constriction and…
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