Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Copper’s Big Leap: Surges Past $10,000 as Investors Eye China’s Policy Support

theguru Views  

Copper prices have surpassed $10,000. Amid expectations of increased demand in China, there’s also speculation of further price increases.

Industry reports indicate copper prices exceeded $10,000 per ton on the 5th. Citigroup analysts attribute this rise to investor optimism about China’s policy support. They anticipate that the Third National People’s Congress (NPC) will unveil additional stimulus measures in July, particularly for upgrading renewable energy infrastructure.

In particular, Citigroup predicted that additional measures targeting Chinese real estate and grid investments would support copper prices in the short term; the recent drop in copper prices would be mainly due to a slowdown in global manufacturing indicators, a temporary phenomenon.

Although June saw weakened cyclical demand, the industry expects overall copper consumption in the first half of this year to maintain a solid level and grow by about 4% compared to the previous year.

Some experts speculate that if major countries begin cutting interest rates in the long term, copper prices could rise further, potentially reaching $12,000 per ton. Jerome Powell, Chairman of the Federal Reserve, noted last week that market confidence in monetary easing is growing as inflation declines.

In Chicago afternoon trading, copper for September delivery rose more than 3% to $4.67 per pound, or $10,300 per ton, marking the highest level in over a month. It surpassed $11,000 per ton in May, setting a record high.

As expectations for a rise in copper prices continue, interest also focuses on related beneficiaries. Notable ones include KBI Metal, Daewon Cable, Semung Electric, LS, and Poongsan. Related exchange-traded funds (ETFs) include KODEX Copper Futures (H) and TIGER Copper Physical. Among Exchange Traded Notes (ETNs) are KB Leverage Copper Futures (H), QV Leverage Copper Futures (H), Meritz Leverage Copper Futures (H), and Samsung Leverage Copper Futures (H).

theguru
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda to Start Making Old Parts Again — Starting with the NSX
  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible

You May Also Like

  • 1
    Sizzling Summer: Southeast US Breaks Heat Records as Temperatures Soar

    LATEST 

  • 2
    GSK Korea’s New Boss: What Gunnar Riediger Brings to the Table!

    LATEST 

  • 3
    Is Tesla Behind LG Energy's Massive Battery Supply Contract?

    LATEST 

  • 4
    New Task Force Takes Aim at Stock Manipulators: A Game Changer for Investors!

    LATEST 

  • 5
    Korean President Aims to Cut Red Tape and Boost Business with New Task Force

    LATEST 

Popular Now

  • 1
    Beat the Heat: Agoda's Top 5 Cool-Cation Spots for Summer Travelers!

    LATEST 

  • 2
    Brace Yourself: Prices on Everyday Goods Set to Rise as Tariffs Take Their Toll

    LATEST 

  • 3
    Former Intel Chief Drops Bombshell: Yoon's Fury Over Marine's Death Revealed!

    LATEST 

  • 4
    Taiwan's President Delays Trip to the Americas Amid Typhoon Chaos

    LATEST 

  • 5
    Buddhist Monk’s Prediction Comes True: Annuity Lottery Winner Shares His Story!

    LATEST 

Must-Reads

  • 1
    Sizzling Summer: Southeast US Breaks Heat Records as Temperatures Soar

    LATEST 

  • 2
    GSK Korea’s New Boss: What Gunnar Riediger Brings to the Table!

    LATEST 

  • 3
    Is Tesla Behind LG Energy's Massive Battery Supply Contract?

    LATEST 

  • 4
    New Task Force Takes Aim at Stock Manipulators: A Game Changer for Investors!

    LATEST 

  • 5
    Korean President Aims to Cut Red Tape and Boost Business with New Task Force

    LATEST 

Popular Now

  • 1
    Beat the Heat: Agoda's Top 5 Cool-Cation Spots for Summer Travelers!

    LATEST 

  • 2
    Brace Yourself: Prices on Everyday Goods Set to Rise as Tariffs Take Their Toll

    LATEST 

  • 3
    Former Intel Chief Drops Bombshell: Yoon's Fury Over Marine's Death Revealed!

    LATEST 

  • 4
    Taiwan's President Delays Trip to the Americas Amid Typhoon Chaos

    LATEST 

  • 5
    Buddhist Monk’s Prediction Comes True: Annuity Lottery Winner Shares His Story!

    LATEST 

Share it on...