
In my Q3 report on the base metals sector on Barchart, I highlighted copper’s 3.70% rise in Q3 and 17.03% price increase over the first nine months of 2024. Nearby COMEX copper futures settled Q3 at $4.5530 per pound when I concluded:
Chinese demand, U.S. interest rates, the path of least resistance of the U.S. dollar, and other factors will determine if the bullish trend in base metals continues in Q4 and beyond. Copper is the sector’s leader, and the other metals could follow the red metal’s lead.