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Copper Price Surge Set To Continue

CHILE
  • Despite USDMXN and USDBRL making early session gains, USDCLP has opened lower, approaching yesterday's worst levels at 730. Hacienda, predictably sold another $120 million yesterday and copper prices continue to make multi year highs above $8,000 a ton.
  • Copper price surges could endure as many factories in China opt to work right through the Lunar New Year break. Driven by local quarantines and travel curbs, it is likely to translate into higher-than-normal demand.

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