COPPER NEWS 15/03/2024 UPDATE BEST TRADING TIPS FOR BEGINNERS BY https://www.youreasytrade.inGET MORE INFO CW/7302366166

Copper Pared Gains On Profit Booking.

Copper experienced a marginal decline of -0.09% yesterday, settling at 752.2, as profit booking tempered earlier gains driven by supply concerns in China’s copper market. Reports of potential output reductions by China’s North Copper, amid tight supplies of copper concentrates and lower processing fees, initially buoyed prices. However, a consortium of Chinese copper smelters agreed to cut production, seeking to stabilize prices amidst recent losses. This move reflects the delicate balance between supply constraints and upcoming expansions in global copper smelting capacity. Mine disruptions and significant expansions in global smelting capacity have led to a shortage of copper ore, prompting China’s major smelters to adjust production plans, maintenance schedules, and project timelines.

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