Supply Risks may support Copper Financial Futures Price

Supply Risks may support Copper Financial Futures Price

Dow Jones News Wire August 16,2024 :

"Base metal markets are digesting weak Chinese industrial output data and supply-side issues,
A strike at BHP's Escondida copper mine in Chile could affect more than 5% of the global supply, while several mines in Chile have yet to finalize wage discussions
Even a slight loss in supply from these labor negotiations could cause the market deficit to increase. That is capping concerns about weaker demand over the next few months"

Extreme Real Value Indicator gives reversal signal on the weekly chart.

Price Target levels are shown on the chart.