Experts now do not hesitate saying that copper can be one of the best tradable commodity in the industry now as the usage of copper has been increasing day after day and the value of the product is satisfactorily encouraging. The usual trends showed that copper generally followed the trend of the precious metal gold. But this time, copper has brought itself out of the taboo and copper prices are rising even when the gold prices are decreasing. And the interesting thing is that this time, along with copper, tin and nickel is also hiking.

2013 still seems to a good year for the base metal copper on the grounds of its preference. The other reasons that are actually helping the copper prices rise are the Chinese constructions, anticipated rebound in underperforming sectors in China (consumer appliances, manufacturing, machinery) and the increment in ex-Chinese consumption (US housing, general electronic machinery activity). For most of the industries in the world, copper stands itself as the key barometer; and its reading the key indicator of the economic development. The pipes and wiring in the houses are all incomplete without the usage of the copper; this further expands the domain of the Copper usage.

Copper is also increasing as the data in the USA and London show an impressive advancement in the demand thus driving it upwards. For the delivery, copper has climbed up to 0.4 percent in London Metal Exchange whereas the increment is of 3.4 percent in Shanghai. These reveal the increasing price quality of the Copper and its better future in the short run. The Commerce Department in the USA showed that the household purchases increased for the long-lasting items more than the forecast which made the price rise of the copper almost sure enough. The buying of the new houses have increased to its highest level in more than two years which has increased the value of the properties and copper being one of the pre-requisites for the construction, it is also rising.

The economic conditions or the economic situation has been improving well and therefore, copper certainly has to show the hints of rise as per the expectation.

Note: This blog is just an expression of the author’s opinion and cannot be deemed responsible for any losses incurred.