Analyst: The recent rise in copper prices is driven by macroeconomic interest rate cuts.

Jin10 data, October 9th, reports that Panmure Liberum analysts stated in a report that the recent pump in copper prices seems to be driven by macroeconomic factors rather than the closure of the main Grasberg mine. The analysts pointed out that the copper market overall remains balanced, with supply outside of the Grasberg mine sufficient to meet demand. They indicated that market data shows that nearly all of the bullish trends in copper prices over the past few weeks can be explained by the continued decline in the U.S. Intrerest Rate structure (and the resulting dollar).