Copper prices near six-week high as one strategist says the 'worst of the correction is over'
Publishing timestamp: 2024-08-27 09:34:42
Summary
Copper prices have been steadily climbing, supported by renewed demand from hedge funds and market optimism over potential U.S. interest rate cuts. Analysts believe the worst of the correction is over, but improvement in demand fundamentals is needed for a stronger recovery. Federal Reserve Chairman Jerome Powell's comments on a possible interest rate cut have further boosted expectations for copper prices.
Sentiment: POSITIVE
Tickers: @HG.1,
Keywords: copper markets, new york, london, united states, copper (mar'23), business news, metal commodities, interest rates, jerome powell, markets,