InvestorQ : what is the copper news
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what is the copper news

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Purvesh answered.
1 year ago


Copper prices and industrial metals recovered on expectations of a global shortage for copper and nickel by electric-vehicle maker Tesla Inc. Elon Musk's Tesla is a major consumer of copper and nickel for its electric-vehicle battery production. Copper prices were up by 0.3 percent rebounding from a two-and-a-half-month low hit recently and the demand from Tesla is one of the major drivers of copper prices.
Copper prices have been under pressure due to uncertain demand outlook from China which is the world's biggest consumer of copper. However, going ahead, supply disruptions in Chile and Peru in the second half of this year and the demand from electric car markets could become the big driver for copper demand and price. The only risk for higher copper prices could be a stronger dollar or any growth weakness in the US or China.