FORECAST: Copper prices expected to stabilise in October, analyst says

Copper prices are expected to maintain the current range and trade between $6,365-6,770 per tonne in October amid easing geopolitical tensions and calmer market conditions, according to INTL FCStone analyst Edward Meir.

Throughout September, copper prices erased August's rally due to a surge in London Metal Exchange stocks, a stronger dollar and meddling Chinese data. Additionally, Hurricanes Irma and Maria devastated the US city of Houston and the Caribbean, affecting short-term demand for commodities.

LME copper stocks moved as high as 313,850 tonnes in September, up 40.7% from August's low of 223,050 tonnes but still 1.9% below the July peak of 319,975 tonnes, according to exchange data. However, stocks retreated somewhat by month's end, closing September at 295,500 tonnes.


Dalton Barker

October 03, 2017

03:28 GMT