LME copper price expected to go up gradually
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Update time : 2022-08-11 22:02:08
The copper prices at the London Metal Exchange (LME) reached the highest at over US$8,000/ton and closed at around US$7,955/ton on August 10. The market outlook was optimistic, and the copper price was expected to go up gradually.
CITIC Securities indicated that global copper inventory kept decreasing, and worries about global economy recession eased. Also, with the uncertain supply of copper and increasing copper demands, copper prices might grow up gradually.
Apart from that, due to energy transformation, the long-term demand for copper has risen. The rise of copper prices would make the valuation of enterprises that manufacture copper plates recover.
