Copper Fundamental Analysis – December 16, 2015 – Forecast

Analysis and Recommendations:

Copper dipped again today after recovering on Friday and Monday. The popular metal is down 22 points at 2.089. Copper prices have been under pressure in recent months amid concerns about weakening demand from China, the world’s top buyer of the industrial metal. Traders also worry that supply of the metal from the world’s mines continues to grow, resulting in a glut.

The FOMC will meet Tuesday and Wednesday to decide whether to raise U.S. interest rates for the first time since June 2006.

Rio Tinto Ltd. and its partners have lined up a combined $4.4 billion from 20 lenders to fund the expansion of a Mongolian copper mine, as the Anglo-Australian company continues to invest in big, new projects despite a rout in global commodity markets.

Rio has become an outlier in the global mining industry by spending billions of dollars to expand businesses such as bauxite and iron ore at a time when many other large producers have delayed new investment. A Rio-led venture plans to build a vast network of mines and metal operations.

FxEmpire provides in-depth analysis for each asset we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole.

Today’s economic releases:

 

Upcoming Economic Events that you should be monitoring:

Wednesday, December 16, 2015

Government Bond Auctions

Date Time Country

Dec 15 11:15 Austria Holds RAGB bond sale

Dec 17 10:30 Spain Auctions Bonos/Obligaciones

Dec 17 11:30 UK GBP 0.7bn 1.25% Nov 2032 I/L Gilt

Dec 17 19:00 US USD 16bn 5-year TIPS auction

Dec 23 17:30 Italy Announces details of CTZ on 29 Dec, plus BTP/CCTeus on 30 Dec

Dec 23 US Holds 2-year FRN auction