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Explained: Why copper prices are rising and what next

Updated : February 22, 2021 12:55 PM IST

Copper prices are on the rise and are at almost a decade-high levels. On Friday, it took out its 76.4 percent Fibonacci retracement off 2010 all-time highs. The metal is also known as Doctor Copper as it sort of mimics what the economy is doing. Some say it even leads the economy and tells us what the economy is doing because of its wide industrial use.

Copper has been on an uptrend in the last six months but what exactly is new? What's driving the factors and where are prices headed CNBC-TV18’s Prashant Nair has more details.

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