Copper futures advanced more than 1.5% to near $4.4 a pound in the third week of July, the highest level since mid-June amid demand optimism supported by extended easy monetary policy. In addition, the dollar remained broadly stable while risk appetite improved on strong earnings results.
Historically, Copper reached an all time high of 4.90 in May of 2021. Copper - data, forecasts, historical chart - was last updated on July of 2021.
Copper is expected to trade at 4.48 USd/LB by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5.04 in 12 months time.