Copper Futures: (Still) waiting for a rebound

Open interest and volume in Copper futures markets shrunk once again on Friday, this time by around 3.7K contracts and by nearly 15.6K contracts, respectively, according to advanced prints from CME Group.

Copper expected to breach the $2.0 mark

Prices of the pound of the base metal closed in red figures once again last Friday. Shrinking open interest and volume are still pointing to a rebound in the near term, although the impact of the coronavirus on the global economy and hence on the demand for copper keep prices well on the downside for the time being.