The Latest News Regarding Copper Futures. Posted By https://www.bullionsignals.com/.wa C/w:-6396479818

Copper prices soared after Chinese smelters, agreed on a joint production cut.

Copper prices surged by 2.3% in the previous session, closing at 752.9, following a significant development in the Chinese copper industry. Chinese smelters, responsible for processing half of the world’s mined copper, announced a joint production cut agreement. This decision was prompted by a need to address a shortage of raw materials and cope with dwindling profits, particularly as copper concentrate fees hit their lowest levels in over a decade. Although the agreement didn’t specify volumes or timing for the production cuts, it signals a proactive move by smelters to manage their operations in a challenging market environment.

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