The price of buyer rose after Federal Reserve chairman Jerome Powell sat on a new interest rate cut this month, while traders saw during the largest annual conference in the sector that the $ 12,000 per tonne level became possible. The metal recorded 1.1%profits, supported by Powell’s statements that strengthened investors’ appetite for commodities, after days of sharp fluctuations amid escalating geopolitical tension. The Fed chairman emphasized that economic expectations have not changed since September, when the bank expected two extra rate cuts this year. Buyer affects record prices copper prices have been benefiting from monetary policy for months, increasing the outlook, and from major disruptions in mines around the world that have reduced supplies. These interruptions highlight the increasing challenges facing mining companies to meet growing world demand. Last week, Copper jumped to its highest levels since May 2024. Also read: The price of copper is on his way to his biggest daily losses in five months after Trump’s statements. Kenny Ives, head of the trade unit at the giant Chinese mining company CMOC Group, expected buyer to end the year at a price of 11,000 or even $ 12,000 per tonne, according to what he said at an event arranged by him. Bloomberg inside the London Metal Exchange week. Nick Snowdon, head of metal research at Mercuria Energy Group, said on the same case that the achievement of these price levels is “easily possible” in the light of the serious supply disruption and the flow of investor money to commodities, especially metals. This will put buyer on a road to a new record price, after reaching a historic high of $ 11.104.50 per ton at the London Metal Exchange in May 2024. The metal rose by 1% on Wednesday to reach $ 10,687 per ton at 2:01 Shanghai. The fall of the industrial momentum in China metal markets has seen sharp fluctuations in sentiment in recent days due to the constant tensions between China and the United States before the expiry of the current trade agreement next month. In his latest statements, US President Donald Trump threatened to stop the trade in vegetable oils with China, in response to Beijing’s decision to suspend the purchase of US soybeans. Also read: The price of buyer is rising with anticipation of the course of US interest rates and the government’s strike. On the other hand, other participants in the Symposium held in London expressed a greater degree of caution. Graeme Train, head of metal analysis at Trafigura Group, said China probably reached the highlight of its latest industrial cycle, with prices usually left for three to six months. As for Eon Tuesday, an analyst at Goldman Sachs, he believed that the global market was still suffering from a surplus, but it could reach balance next year. Iron ore contracts dropped 0.7% on the stock exchange in Singapore to $ 104.40 per ton, and Yuan-denominated contracts also fell on the Dalian Commodity Exchange.
Buyer is returning with the expectation to reach $ 12,000
