Copper Prices Rebound As Global Clean Energy Transition Drives Diversified Demand Growth
–News Direct–
By Rachael Green, Benzinga
After erasing the solid July gains both made in July in the first half of August, both copper and copper mining stocks seem to be rebounding in the second half of the month. The slide in the first half of the month came as China posted weaker-than-expected imports and exports for July, including declining vehicle sales and a dip in copper imports.
The decline in copper prices was short-lived, though, as the overall market sentiment on the metal seems to have reversed despite the weak economic data from China last month. Like many of the metals needed in the clean energy transition, copper is rallying on the growing urgency and capital investment in reducing fossil fuel dependence. Copper is not only an important material in batteries, but also in a...