Copper prices have been falling over recent weeks over global recession worries. As central banks around the world pivot towards hiking interest rates quickly they risk doing so at the expense of slowing growth. WIth inflation being high many investors see the problem that central banks will have no choice, but to rapidly slow growth.
This is what has been impacting not just copper prices, but aluminium, and Iron ore prices. Industrials metal are projecting falling demand.
Will copper prices keep falling lower on these global recessionary fears? If they do it is worth being aware of copper’s weak seasonal pattern at the start of August.
Over the last 15 years copper has lost value 11 times with an average fall of -2.79%. Will this result in further falls again this year? Or will copper buck its seasonal bias?
Major Trade Risks:
If investors consider that a ‘soft landing’ is possible then global risk sentiment could pick up again.
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