Copper price steady at £ 4.14 / kg as stocks rise to 262 kT

April 28, 2020by Ruth Smart

Nobody panic. This is just a a temporary blip. The Global economy will bounce right back as soon as lock downs are lifted ……..

That’s my conclusion from the steady price, although I am surprised that stocks are not rising faster. That may be due to China buying copper as it comes out of lock down BUT what will China do with all that copper when it’s markets are in lock down ???

Like an Earthquake I reckon there are going to be major economic aftershocks as the virus spreads round the globe and then where will all the copper go ?

Back in 2008 copper dropped to USD 3000 / ton GBP 1.96 / kg. What are the odds of copper dropping back there again ?