Copper to Trade Slightly Up at US8,269.60/Tonne This Week in DRC
After several weeks of scarcity, the price of copper should register a slight increase during the period from August 28 to September 2, 2023.
According to projections by the National Mercurial Commission of the Ministry of Foreign Trade, a ton of copper should sell this week at 8,269.60 USD against 8,232.45 USD a week earlier, a positive price difference. around $37.15.
On Friday August 25, 2023, for the first time since the beginning of the current month, copper recorded a better trend in the market, driven by hopes of a rebound in demand in China.
In the early afternoon of August 25, 2023, copper for 3-month delivery was up 0.66% since the open at USD 8,415/tonne. The red metal has climbed more than 2% since the start of the week.
It should be noted that since the beginning of this year 2023, several mining products exported from the Democratic Republic of Congo have recorded a significant drop, depriving the public treasury of considerable revenue.
Cobalt, which experienced a free fall at the end of last year, still does not take off and has been sold around 32,000 USD per tonne for almost 3 months.
Gold, silver and tantalum also shine with a repeated drop in price on international markets.
