Free Trial

Copper Strikes New Decade High, Counters Oil Weakness

COMMODITIES
  • Copper prices cleared the late February highs early Monday, hitting the best levels since 2011 at $442.00 as markets further price in a swifter economic recovery later in 2021.
  • Traders continue to focus on the sizeable infrastructure plans expected to be laid out by President Biden this week, with a focus on clean energy and electric vehicles seen driving demand for industrial metals. Steel and iron ore prices are similarly strong.
  • Countering strength in metals, the energy complex is soft, with both WTI and Brent crude futures in negative territory ahead of Monday's open. This week's OPEC+ meeting takes focus, with the JMMC starting Monday, before the full ministerial event on Wednesday.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.