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Funds still in the driving seat as copper hits fresh highs: Andy Home London Metal Exchange (LME) copper last week punched up through the $8,000-per tonne level for the first time since February 2013. LME three-month metal touched a high of $8,238 per tonne on Friday and has retraced to a current $7,900. The copper price has now almost doubled since its COVID-19 low of $4,371 in March last year. The subsequent super-charged rally has been a bullish collision of positive short-term fundamentals, particularly China’s unprecedented buying spree, and funds betting on a longer-term, commodities-...

Copper has been wrapped into a larger reflationary trade which leaves it exposed to broader market turbulence such as a sell-off in global equity markets.

By Brady Sidwell Dec 13, 2020 Howdy market watchers, Hopefully by the time of this reading, it’s snowy white outside. Just in time for the holidays on this anything but usual end to the year. There is plenty of doom and gloom out there with news circulating all this week that daily COVID-19 deaths are now equivalent to 9/11 and Pearl Harbor, daily. It’s sad, confusing and frustrating all at the same time. We can only hope for a better tomorrow. News of the FDA’s pending approval of Pfizer’s vaccine is some glimmer of hope, but there still is plenty of pain to be had betwee...