Copper is expected to experience a significant drop in prices on international metals markets in the period from October 2 to 7, 2023. According to projections from the National Mercurial Commission of the Ministry of Foreign Trade of the Democratic Republic of Congo (DRC), the price of a ton of copper is expected to fall from 8,325 USD to 8,095 USD, a drop of 230 USD, or a loss of 2.77%.
This drop in the price of copper can be explained by different factors that influence the market. Among them, we can cite less sustained global demand, in particular due to global economic uncertainties and fluctuations in financial markets. Additionally, copper production has seen an increase in some countries such as China, leading to a greater supply in the market, contributing to lower prices.
However, not all commodities are experiencing this downward trend. Indeed, other mining products exported from the DRC are expected to record a price increase this week on international markets. Tin, gold, silver and tantalum are all expected to see an increase in value.
The price of a ton of tin is expected to increase from 25,540 USD to 25,700 USD, an increase of 0.63%. As for gold, it is expected to trade at USD 62.97 per gram, up 0.76% from the previous week. Silver is also expected to see its price increase, from USD 0.75 to USD 0.76 per gram, an increase of 1.33%. Finally, tantalum is expected to be sold at USD 302.00 per kilogram, a price increase of 0.67%.
On the other hand, the price of zinc is expected to see a slight decline, from USD 2,512 to USD 2,496, a decrease of 0.65%.
It is important to note that these projections are based on current estimates and may be subject to variations depending on market developments. Investors and industry players must therefore take these trends into account to adjust their business strategies and purchasing decisions.
In conclusion, the copper market is expected to see a drop in price this week, while other mining commodities will see a rise in value. This development is influenced by various factors such as supply and demand, as well as global economic fluctuations. Industry players must remain attentive to these trends to make informed decisions.