Industrial and Base Metals Fundamental Analysis – July 9, 2015 – Forecast – Copper, Palladium & More

Analysis and Recommendations:

Copper fell again today but not as much as Palladium which tumbled over $16 to 636.00. Copper is trading at 2.443. Commodities overall are getting smashed. Metals took a hit Tuesday with gold losing more than $20 per ounce as the strong dollar sent the shiny commodity to finish at its lowest since March at $1,152.60 per ounce. Copper plunged 3.6% Tuesday due to China worries, at one point sinking to 2009 levels.

Copper prices plunged to a six-year low after fresh losses in China’s stock market amplified investor fears of a faster-than-expected retrenchment in the country’s economic growth and weaker demand for the metal. China is the world’s top copper consumer, accounting for roughly 40% of global copper demand, and its economic health is often directly reflected in the price of metal.

FxEmpire provides in-depth analysis for each currency and commodity 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 recent analysis and information in our weekly reports.

Today’s economic releases:

 

Upcoming Economic Events that you should be monitoring:

Thursday, July 9, 2015

Government Bond Auctions

Date Time Country

Jul 08 11:30 Germany Eur 4bn Jun 2017 Schatz

Jul 08 17:30 Italy Announces details of BTP/CCTeu on 13 Jul

Jul 08 19:00 US Auctions 10-year notes

Jul 09 19:00 US Auctions 30-year bonds