Copper Presses Higher on Monday; CPER Gains 0.70%
The copper-tracking fund CPER settled at US$40.18, up 0.70% Monday, as Freeport-McMoRan jumped 1.28% and Southern Copper climbed 1.73%. China's steady demand an The post Copper Presses Higher on Monday; CPER Gains 0.70% appeared first on The Rio Times .
Copper prices rose on Monday, with the CPER fund gaining 0.70% to settle at US$40.18. Major copper miners, such as Southern Copper and Freeport-McMoRan, saw their shares increase as well. Southern Copper closed at US$200.11, a 0.53% gain, while Freeport-McMoRan reached US$70.51, up 1.28%. The main reason for the rise was China's consistent industrial demand and the expansion of global electrical infrastructure projects.
These factors kept copper in demand, even without a significant news event to spark the rally. Copper's steady climb was driven by reliable, if unexciting, industrial consumption. Both Southern Copper and Freeport-McMoRan, major copper producers in Peru and Chile, contributed to the market's upward movement. The CPER fund, which tracks copper futures, reached US$40.18, marking a 0.70% rise.
The gains in copper-related stocks were steady and well-supported, signaling a market that is structurally tight, with no sudden shocks looming.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
