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Copper Futures Decline To February 21′ Levels

Copper futures fell to $3.50 per pound, a level not seen since February 2021, as fears of a demand-killing recession continued to hang over the market.

Even with the recent down turn in copper futures the commodity should not be written off that easy.

Copper and aluminum will be a significantly demanded commodity as pending Ukraine rebuilding, North American Infrastructure and Global Infrastructure projects begin to roll out the end of this year and beyond.

Demand and volatility should be monitored and considered. As increased Military budgets balloon and China’s pending lines coming back on it will demand steady supplies.

The Caixin China manufacturing PMI came in at 51.7 in June 2022. This was the first month of growth after three months of contraction.

Within processing and handling the world’s biggest copper producer, Codelco in Chile, came to an agreement with the company to end a national strike over the decision to close the troubled Ventanas smelter.

Copper lost more than 12 percent in June, making it the third month in a row that it fell.

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