Thursday, November 10, 2022

"Copper price rises on signs of US inflation turning the corner"

 This is not the lift-off of the red rocket ship.

From Bloomberg via Mining.com, November 10:

The copper price rose on Thursday, as a weaker dollar made greenback-priced metals cheaper to holders of other currencies.

Copper for delivery in December rose 2.4% on the Comex market in New York, touching $3.79 per pound ($8,338 per tonne).

The dollar fell sharply on Thursday after US consumer prices rose less than expected last month. The country’s official inflation rate cooled to 7.7%, down from 8.2% in August and below the 7.9% increase that economists were expecting....

....MORE

Overnight futures $3.8340, last.