Copper prices have rebounded following an advantageous sell-off last Friday that saw copper and zinc fall 3 per cent and 3.1 per cent respectively on the London Metal Exchange. The rebound is part of predicted analyst trends in 2017, particularly for the copper industry.
China has been cited as an influence, following a surge in imports over the last year — producer inflation accelerated to a four-month high in August — while demand for the metal as a material in new economy industries such as renewable technology and EV production has also been acknowledged as a further potential contributing factor.
The price of copper spiked in late 2016, hitting an 18-month peak following the announcement of US President Donald Trump’s $500 billion infrastructure plan, and while levels have receded since, still remain high compared to poor performance in both 2015 and 2016.
Zinc has also been performing well in 2017, with prices having risen by roughly 20 per cent over the last year (around $US3000 per tonne). Red River Resources Limited has just launched a zinc concentrate mining operation ahead of schedule at Thalanaga Mill in Queensland that is expected to perform well.