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Although he had a break today, copper did not go well. All for the effects that the trade war has on the price of the red metal. In the week, finally, its price fell by 1.5% compared to the previous week, according to the value of its price on the London Metal Exchange (data collected by the Chilean Copper Commission, Cochilco).
because of the insecurities generated by the trade wars, which, incidentally, do not seem to go back and which has raised the government's concern. The value of the metal would remain at current levels as long as the path of conflict between major economies is unclear.
"The dominant speculative activity induced by the trade war has put the price below its supply demand fundamentals. In the short term The current level of copper price will persist until 39. the uncertainties resulting from trade tensions are dissipating, a term that is difficult to specify.On the other hand, the decrease of nearly 100,000 tons of copper stocks available in the stock market over the last 20 days, suggests an overreaction of investors in the metal, "said the weekly report of the entity.
The metal closed at a price of US $ 2.76 per pound compared with the US $ 2.71 recorded yesterday
Details of the weekly report can be found here.
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