Copper stabilized on Monday as markets anticipated further increases in US infrastructure spending from President Donald Trump this week, but production outages at the world's two largest copper mines have supported prices.
The metal hit its highest from May 2015 to February 13 amid news of a strike at the Escondida BHP Billiton copper mine in Chile and a dispute over a treaty that halted operations at the Grasberg Freeport-McMoRan facility in Indonesia.
These events continue to support copper at its peak, but the metal took a breather on Monday after a 1.2 percent gain from the previous session. The rise in copper prices since November last year has been fueled by the prospect of significant spending on public infrastructure in the US, but so far, there have been no real concrete plans on this matter. The metal remains high due to problems with the supply of raw materials.
Copper stalled growth after Trump's speech
|
Azovpromstal® 28 February 2017 г. 11:36 |
