Copper News May 7 2024 Nj. Gold is holding up well, but silver looks suspect. Copper briefly traded through $10,000 a ton as investors raised bets on federal reserve rate cuts, and goldman sachs group inc.

World copper mine production is expected to increase by 0.5% in 2024 with growth of 3.9% forecast in 2025, according to a report by the international copper study group. Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user china.