What $68/bbl. Oil and $7,188/ton Cop­per mean for Zam­bia

Zambian Business Times - - COMMODITIES -

COM­MODI­TIES have had the best 2 years and ended 2017 stronger than ever. Most an­a­lysts dub thus rally as the strong­est since the 2008 Fi­nan­cial Cri­sis. Crude (Brent and WTI) fu­tures are at 3yr highs of be­tween $61bbl and $68bbl while cop­per has ex­ceeded most an­a­lysts’ ex­pec­ta­tions in 2017 clos­ing the year above $7,000/met­ric ton. Be­low are Oil and Cop­per price graphs show­ing cur­rent pric­ing lev­els from trad­ing eco­nomics.

Cop­per was pro­pelled by a grow­ing U.S econ­omy post Trump elec­tion, pos­i­tive fac­tory ac­tiv­ity data out of China, mine strikes in South Amer­ica – Chile and Venezuela, the elec­tric car and ru­mours about reg­u­la­tion that bans scrap im­ports. The crude rally on the other hand was fu­elled by a suc­cess­ful OPEC deal where most mem­bers have tight­ened sup­ply to help sup­port the price.

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