Chart of the week: Copper's revival
After plunging by a fifth last year, the copper price has jumped to their highest level in eight months: around $6,500 per tonne.
After plunging by a fifth last year, copper prices have jumped to their highest level in eight months: around $6,500 per tonne. Tight supplies and optimism over global growth boosted prices after President Donald Trump said he would delay an increase in tariffs on Chinese goods (see above).
The red metal is found in consumer products, cars and semiconductors. In 2018 global demand reached 23.6 million tonnes. By 2027, it could hit 30 million tonnes, representing an average annual growth rate of about 2.6%, according to Forbes. Electric vehicles use far more copper than their combustion-powered counterparts. Bullish sentiment has offset recent signs of a downturn in China, the main consumer of the metal.
Viewpoint
A government investment fund is to be created to take stakes in local companies and protect them from foreign takeovers. Altmaier also thinks thestate should play a leading role in the development of artificial intelligence and use billions of taxpayers' money to subsidise companies in the field. In other words, Germany wants to be a bit more like China. As if the German government had foolproof information on what investments are needed today to be successful in 30 years' time. Who needs socialists these days? German (and Austrian) conservatives are happily implementing their policies.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Franz Schellhorn, Profil (Austria)
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
How ‘Bed & ISA’ could save you £15,000 over a decade
Moving your investments into a tax-free wrapper through ‘Bed & ISA’ transactions could save you thousands over the long run by cutting your tax bill
By Katie Williams Published
-
House prices hit record high, says Halifax
UK house prices rose 3.9% over the past year, with a typical property now costing £293,999. We look at which regions are seeing the strongest growth, and whether the rally in house prices will continue next year
By Ruth Emery Published
-
What would the greatest mathematician of the Middle Ages say about gold today?
Sponsored Italian mathematician Fibonacci is most famous for a curious sequence of numbers. Continuing his series on technical analysis, Dominic Frisby explains what these numbers are, and what they can tell us about gold’s next move.
By Dominic Frisby Published
-
How moving averages can reveal trades worth betting on – and ones to avoid
Sponsored Dominic Frisby looks in more depth at how moving averages can help you catch turning points in markets and help you decide which trades are worth pursuing.
By Dominic Frisby Published
-
This chart pattern could be extraordinarily bullish for gold
Charts The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that investors could retire on.
By Dominic Frisby Published
-
Believe it or not, this market is a “buy”
Charts With the world in the state it’s in and the market so volatile, buying stocks right now might go against all your instincts. But that’s just what you should be doing, says Dominic Frisby. Here, he explains why.
By Dominic Frisby Published
-
Chart of the week: avocados and bitcoin are in sync
Charts An amusing new spurious correlation has been spotted between the price of bitcoin and Mexican Hass avocados. In reality, of course, they have nothing to do with each other beyond “superficial price action”.
By moneyweek Published
-
Chart of the week: Kuwait's stockmarket is ready for take-off
Charts Kuwait's stockmarket is due to be promoted from “frontier” status to an emerging market by index provider MSCI next June. That should entice almost $10bn of global investors’ cash into the country.
By moneyweek Published
-
Chart of the week: US stocks outrun profits
Charts The US stockmarket has become totally detached from underlying profits of its constituent companies over the past three years.
By moneyweek Published
-
Chart of the week: Dr Copper diagnoses an ailing economy
Charts The price of copper has slipped by a fifth this year and is now at a near-two-year low of around $5,600 a tonne.
By moneyweek Published