Copper is known as the industrial commodity with a PhD in Economics because it is a very strong forward indicator of economic health and inflation. When the global economy begins to expand it first shows up in copper prices and other industrial metals because they’re the building blocks for industrial growth. When economies begin to contract, indications of the contractions shows up first in the pricing in copper. The global average Copper price was 8347.83 as of August 01, 2023.
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