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The international situation of copper prices in 2024.
In 2024, copper prices fluctuated within a certain range. Citibank expects the average copper price in the fourth quarter of 2024 to be US$9,500/ton, close to the current spot price. On the one hand, market expectations for new details of China's fiscal easing measures have provided some support for copper prices. As the world's largest copper consumer, China's policy adjustments and economic trends have an important impact on copper prices. As China continuously strengthens market liquidity and introduces a series of favorable measures to boost the market economy, this will increase the demand for copper to a certain extent and thus have a positive impact on copper prices.
International situation impact: However, the uncertainty of the international situation has also put pressure on copper prices. As the US presidential election approaches, changes in the political situation and the possible policy adjustments it brings have aroused market concerns and worries. In addition, geopolitical risks such as the tense situation in the Middle East have also made capital more cautious when investing, suppressing the upward space of copper prices. After entering October, London copper oscillated in the range of US$9,500 - 10,000. The combination of long and short factors has formed a situation of oscillating within a range.
In 2024, copper prices fluctuated within a certain range. Citibank expects the average copper price in the fourth quarter of 2024 to be US$9,500/ton, close to the current spot price. On the one hand, market expectations for new details of China's fiscal easing measures have provided some support for copper prices. As the world's largest copper consumer, China's policy adjustments and economic trends have an important impact on copper prices. As China continuously strengthens market liquidity and introduces a series of favorable measures to boost the market economy, this will increase the demand for copper to a certain extent and thus have a positive impact on copper prices.
International situation impact: However, the uncertainty of the international situation has also put pressure on copper prices. As the US presidential election approaches, changes in the political situation and the possible policy adjustments it brings have aroused market concerns and worries. In addition, geopolitical risks such as the tense situation in the Middle East have also made capital more cautious when investing, suppressing the upward space of copper prices. After entering October, London copper oscillated in the range of US$9,500 - 10,000. The combination of long and short factors has formed a situation of oscillating within a range.