Copper boosted by dollar weakness Chinese refined copper output reached 800,000 tonnes in...
In the current environment, copper prices are driven more by macro flows than fundamental flows. In this regard, last week, the LME copper price came under pressure most of the week despite rising supply disruption risks, including at Las Bambas, before rebounding strongly on Friday. That rebound was caused by an abrupt depreciation in the dollar following an agreement on a Brexit deal between the UK and the EU.
China’s copper trends
Here we summarise some of the key copper-specific Chinese data that has become available in recent days.
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