Cop­per bullish on 94% ‘scrap of im­ports’ in China

Zambian Business Times - - COMMODITIES -

IN­VESTORS glob­ally are put­ting money in com­modi­ties rang­ing from oil to cop­per as they ap­proach 3-4yr highs. This is the strong­est ever man­u­fac­tur­ing pulse ob­served post the 2018 fi­nan­cial cri­sis. Cop­per is trad­ing above $7,200/ton on the Lon­don Me­tal Ex­change as brent is trad­ing for $67/bbl.

"Rarely has the out­look for a New Year been as en­cour­ag­ing as it is to­day," said Hol­ger Sch­mied­ing, chief econ­o­mist at Beren­berg Bank in Lon­don.

World fac­to­ries are de­mand­ing raw ma­te­ri­als with fi­nan­cial mar­ket com­modi­ties in­dexes at record highs. In the last two weeks most an­a­lysts have seen in­dexes that are point­ing north.

The oil mar­ket is tight­en­ing very quickly as mem­bers stick to the OPEC agree­ment to help sup­port the price which will as­sist crude pro­duc­ing na­tions.

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