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Copper LME up to £6.88/kg as stocks down to 122kT

Over the last month the price of copper has increased and stocks fallen as USA avoids recession while producers struggle with drought conditions.

Will ongoing climate issues and COVID restrictions continue to hold back China ?

Will Europe tip into recession as a consequence of Russia’s invasion of Ukraine ?

Will suppliers be able to recover production ?

My best guess is that despite increased volatility the price of copper is going to level off.