Copper to Trade at USD 8,948.00/ton on DRC’s BCC market as of March 23, 2023
The price of copper should rise slightly from March 23, 2023, says experts from the Central Bank of Congo (BCC).
According to the summary of statistical information published by this financial institution of the Democratic Republic of Congo (DRC), copper should sell at 8,948.00 USD per ton this Thursday, March 23, 2023 on the London Stock Exchange.
The same document informs that at the beginning of this month of March 2023, the ton of copper was traded at 9,050.00 USD, i.e. a slight drop in price of around 102 USD.
It should be noted that the price of copper has remained very dynamic since the beginning of 2023,
oscillating between rising and falling. As of January 31, 2023, a ton of copper traded at USD 9,087.00 before falling to USD 8,805.85 on February 24, 2023 and USD 8,835.00 on the 27th of the same month.
Benefiting from signs of improving demand, easing fears about the banking sector and hopes of a slowdown in US rate hikes, copper has risen this week, industry experts note.
As of March 21, 2023, the copper price for 3-month delivery shows a rebound of 1.6% since the opening, at 8,830 USD/tonne.
“The red metal’s gains are fueled by the relegation to the background of fears about the banking sector”, explains Ole Hansen, analyst at Saxo Bank.
