Explore Special Offers & White Papers from ADMIS

Copper Continues Higher


With a very impressive recovery this morning taking out yesterday’s high, it is possible that a-number-of fresh shorts were caught pressing prices too far yesterday. Holding back both gold and silver this morning is another outflow from ETF’s yesterday with gold posting the 6th straight day of declines with silver posting its 10th straight day of declines.


With another new high for the move posted early today in platinum and favorable fundamental stories surfacing in the press from Southeast Asia, the platinum market should regain the $1,000 level soon. It should be noted that money is beginning to flow into platinum ETF’s with an inflow yesterday of 26,740 ounces which brings the year to date expansion of holdings up to 13%.


With another positive Chinese manufacturing PMI reading overnight the hope for growing Chinese copper demand is revitalized and given specific dates for administering the vaccine, the big picture environment for copper would seem to justify additional new highs for the move. However, the copper market exploded again with a 2-day low to high rally of $0.17 on Monday and that combined with another record spec and fund long positioning should mean an ongoing uptrend will be fraught with two-sided volatility.

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore Special Offers & White Papers from ADMIS

Get Started