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Copper Market Recap – 8/21/2017

Posted 08/21/2017 3:34PM CT | Hightower Report

September Copper closed up 0.04 at 2.98. This was 0.05 up from the low and 0.02 off the high.

Copper regained strong upside momentum at the start of this week as it went on to post a solid gain during Monday’s trading session as well as reach a new high for the move. Reports of labor unrest over the weekend at the Grasberg mine in Indonesia provided copper with a fresh boost of supply-side anxiety given the difficulties seen from that mine over the past year. In addition, a sharp drop in LME daily exchange copper stocks provided copper prices with significant
support.

Hightower Report