Copper Prices Plummet: Market Trends

Copper Prices Plummet: A Bearish Day in the MarketToday, copper prices took a downward turn, with all contracts experiencing a decline. The December twenty-five contract closed at $5.027 per pound, a drop of $0.036 from the previous close. Similar trends were seen in the March twenty-six and May twenty-seven contracts, which closed at $5.10 and $3.303, respectively, marking decreases of $0.035 and $0.030.The bearish sentiment is further supported by the low estimated volume of thirty-one thousand one hundred forty-four contracts, a stark contrast to Fridays volume. The open interest also saw a decrease of four thousand two hundred eighty-seven contracts, indicating closed positions.These movements in copper prices have significant implications for industries such as construction and electronics, which heavily rely on this metal. Well keep you updated on these trends as the week unfolds.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.