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Copper Seasonal Chart

Copper (CMX): (High: Mar-Apr/Low: Jun or Dec) Classic case of “demand precedes consumption.” The latter is typically greatest during US construction season May-Sep whereas the former is greatest as inventories are built in anticipation. Rally from FND for July contract into early September reflects “last-gasp” demand ahead of final burst of construction/remodeling before bad weather begins.
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Charts courtesy of Moore Research Center, Inc.

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See also  Minneapolis Wheat Seasonal Chart