Copper Diverges from Crude Oil amid Construction Boom, China Prospects.
Saved in:
| Title: | Copper Diverges from Crude Oil amid Construction Boom, China Prospects. |
|---|---|
| Authors: | CME Group |
| Source: | Benzinga. 02/24/2023. |
| Abstract: | The mining and refining of copper is extraordinarily energy intensive. As such, it’s not surprising that so far this century, copper prices have shown a tight connection with the price of crude oil. The past four months, however, have been an exception. Since October 7, 2022, high-grade copper prices have risen from $3.38 per pound to over $4.00, while the price of West Texas Intermediate (WTI) crude oil has fallen from $91 per barrel to around $80 (Figure 1). [ABSTRACT FROM PUBLISHER] |
| Database: | Newspaper Source Plus |
|
Full text is not displayed to guests.
Login for full access.
|
|
| Abstract: | The mining and refining of copper is extraordinarily energy intensive. As such, it’s not surprising that so far this century, copper prices have shown a tight connection with the price of crude oil. The past four months, however, have been an exception. Since October 7, 2022, high-grade copper prices have risen from $3.38 per pound to over $4.00, while the price of West Texas Intermediate (WTI) crude oil has fallen from $91 per barrel to around $80 (Figure 1). [ABSTRACT FROM PUBLISHER] |
|---|
