Copper rises in price on weakening dollar

The copper price is growing due to the depreciation of the American currency. By 9.16 Moscow time, this metal pound rose in price on the Comex exchange to $4.3945, or 0.48%. On the trading eve of the stock exchange in London, the price of a ton of copper fell to $9,563.5, or 0.87%. Zinc also fell in price. Its cost dropped to $3477 per ton or 1.59%. At the same time, aluminum rose in price to $2,931.50 per ton or 0.58%. A weakening dollar contributed to the rise in copper prices on Tuesday. The depreciation of the US currency is a favorable factor for commodities. The dollar index fell to 95.86 points or 0.14%. However, experts believe that the rise in copper prices will be short-lived. In the short term, this metal price is likely to start to decline. The rise in interest rates by the developed countries’ central banks may start earlier than expected. This will put pressure on commodity markets, including the copper market.

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Arseny Kudrin

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