• Forex
  • Investments
  • Loyalty program
  • Promotions and contests
  • Analysis
  • Getting started
  • About us

Copper heading for $9,170

Copper prices have been trending higher on Wednesday, March 17, amid investor fears about a shortage of supplies from Chile. The metal is trading at $9,032/t after three days of heavy selling and could be set for a rebound to $9,170. This would allow copper to break out of the upper bound of the $8,860-9,168 side trend and enter a rising trend.

There is a fundamental reason behind the uptrend: fears are rising that copper supply from Chile will be disrupted. This comes amid ongoing wage negotiations at the Los Pelambres mine in Chile. The company's latest proposal on the structure of contracts with employees did not suit the workers, and the copper mine has not yet returned to work.

Similar complications may arise at other Antofagasta fields, so the risk of a supply disruption is quite significant.

 

Latest reviews

Everyone has the chance to make a profit

You don't need to trade on your own to make a profit. Make a profit by entrusting your funds to experienced traders!

Register

There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.