Copper’s Retreat Could Position it for a Major Rally
Following its recent rally in July which saw the metal’s prices rise to new highs, copper has recorded a significant drop these last few months. Despite this, analysts argue that the upward trend is nowhere near finished. Forecasts point to demand for the red metal soon surpassing available supply, potentially paving the way for another price surge. RJO Futures’ Senior Market Strategist, John Caruso, explains that with the metal’s consumption expected to rise by roughly a million metric tons annually over the next ten years, copper is ripe for a lasting rally. Even though the Trump administration has stepped back…