Copper Prices Lowest in a Year: Will Red Metal Stocks Suffer?
S and China trade tensions remain an everyday spectacle, but economic demand has yet to show clear vulnerability. Turkish president Recep Tayyip Erdogan said that his country is facing an "economic war. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. Select a Commodity --Currencies-- U.
This development came after the union and company, BHP Billiton decided to discuss issues regarding labor pay. The Chile government-mediated talks avoided strikes and averted supply disruption concerns. Copper prices also fell around 0. ARREF are expected to bear the brunt. Amerigo Resources has a Zacks Rank 2 Buy. Undoubtedly, metal prices, including copper are falling following a stronger dollar. A stronger dollar makes it difficult for non-dollar holders to invest in.
Additionally, China, which happened to be the biggest consumer of copper, is suffering as evident from its latest economic data.
Further, averting of supply disruptions in Escondida mine in Chile added to the existing woes. Today's Stocks from Zacks' Hottest Strategies. Follow us on Facebook: Blue Line Futures Facebook page. Subscribe to our YouTube channel: Blue Line Futures YouTube channel. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable.
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All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. And with Pro Euro signals emanating from the newly formed Italian government placating investors anxiety about the future of the Eurozone, the global risk was in the happy zone Monday.
A precursor of the civility to come? Few traders are expecting anything definitive to come out of the summit. However, investors remain ever so vigilant for potential fireworks. Oh, the joys of headline-driven markets.
Short term traders were caught leaning lower and ran for cover. All the while the general risk-on appeal in US equities is providing some support. But markets are caught between opposing views. Prices have probably fallen enough to keep end users content.