Copper Tarnishes Against Strong Dollar

Copper is on a downturn against a strong dollar

Copper prices are on a slight upward trend for the past trading week, hoping to gain back some value lost. A strong dollar has not only impacted copper prices, but metals overall. As seen in the figure below, copper was trading higher in late May at the 54,000 level, but lost much the value in the following months. It does not seem to be getting better; with copper hitting recent lows in August. Trading volume is also following this trend with declining volumes. As the dollar continues to post strong number, we do not see copper gaining in value.

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Gloria Van Rees
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