Copper Prices on the Rise
Global copper prices surged in October due to a disruption at Indonesia's Grasberg mine and increased Chinese solar demand.
The Copper Monthly Metals Index (MMI) rose by 3.7% from September to October, with Comex copper prices reaching a two-month high, exceeding the 11k per metric ton mark.
LME copper prices also increased, albeit at a slower pace than Comex prices.
China has formalized a barter, and Turkey's rapid investment in solar has contributed to the rising demand for copper.
- Disruption at Indonesia's Grasberg mine
- Increased Chinese solar demand
- Rising copper prices on Comex and LME
Author's summary: Copper prices rise due to supply shocks and solar demand.
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