Copper Price Hits Record High Amid Supply Tightness and Strong US Dollar
The copper price has been experiencing a bullish trend due to supply tightness and China's aggressive restocking, but a stronger US dollar is curbing its gains.
Copper futures are trading around $6.70-$6.80, with the Comex Copper (HG) hitting a fresh record high two weeks ago.
The current short-term technical indicators suggest further gains in the near future, with copper above both its 25-day and 50-day EMAs, and the golden-cross pattern still intact.