Copper prices have declined by nearly 5.5 percent in the last three trading sessions. The prices had seen an all-time high of $10,800/tonne, and saw a low below $9,700/tonne yesterday (June 15). So, it is a 10-12 percent decline from the all-time highs.
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The announcement from China to release state reserves of copper, aluminium, and zinc to end users every month, is also putting pressure on copper prices, which is trading at 7-week lows in the Asian markets.
Meanwhile, JPMorgan has raised coal price forecast by nearly 28 percent for FY21, and 23 percent for FY22. Given the fact that it is not environment friendly, there have been no new investments into coal mines, which is supporting the prices.
For more details on copper and coal prices, watch the video.
