A Deutsche Bank forecast suggests copper prices could rise nearly 50% to $22,050 per ton by mid-2027, citing aggressive stockpiling by the U.S. and China that could create a global supply crunch.
The Baltic Dry Index, a global benchmark for shipping raw materials, fell to its lowest level since September 1, dragged down by a sharp 7.5% drop in the capesize index amid weakening demand for iron ore.
Saudi Arabia has restarted crude shipments from the Red Sea port of Yanbu, ending a 17-day halt caused by drone strikes on a key pipeline, according to a Bloomberg report. The move eases supply concerns for European refiners, though the pipeline is not yet at full capacity.
Copper prices fell on Monday after data showed slowing industrial profit growth in top consumer China. A stronger U.S. dollar further pressured the industrial metal, raising concerns about global demand.
Wholesale natural gas prices in Europe and the UK rose nearly 3% on Monday, snapping a recent losing streak as stalled diplomatic talks in the Middle East and low storage levels revived fears of a winter supply crunch.
Investors are navigating the final week of the third quarter with a focus on the upcoming U.S. employment report and persistent inflationary pressures from rising oil prices, which have climbed above $108 a barrel.
A high-profile summit between the U.S. and China produced minimal concrete agreements on trade and investment, reinforcing what analysts describe as a 'managed stalemate' that serves Beijing's strategic interests.
Gold has breached the key $4,200 support level, confirming a bearish technical breakdown. However, with the Relative Strength Index (RSI) falling to an oversold 28.6, the market faces heightened volatility and the risk of a short-term price reversal.
Copper prices are hovering around the key $6.63 level, a confluence of the 200-period SMA and other indicators, signaling a potential for a significant breakdown or reversal.
