Copper Coming Down?

Data provided by the Shanghai Futures Exchange (ShFE) indicates that the inventories of base metals increased throughout the past week. This rise is primarily attributed to subdued consumption during the recent week-long holiday earlier this month. Specifically, copper inventories surged by 94,803 tonnes, marking a substantial increase of 109.6% compared to the previous week. This marks the eighth consecutive week of inventory growth, with total copper stocks reaching 181,323 tonnes as of Friday, the highest level recorded since March 17, 2023.

Now, if we look at the seasonal pattern for Copper we can see that we are fast approaching a weak seasonal period!  Is this a great time to short copper?

Check out the video below for more details!

The major trade risk here is that the strong seasonals don’t necessarily repeat themselves again this year.

Remember, don’t just trade it Seasonax It!

Invest smarter.
GET our free trading ideas!