The price of copper continues to rise in international markets and registers an increase of 23.3% so far in 2024, the
Copper price rose 2.2% to US$4.74 per pound from May 15 to 22.
According to the BCR's Weekly Report, the higher price was associated with supply shortage concerns and short position hedging.
In the same period, zinc price rose 2.6% to US$1.37 per pound as a result of strong demand from investment funds and a shortage of supply of this metal.
On the other hand, gold price decreased 0.3% to US$2,378.9 per troy ounce from May 15 to 22.
This lower price was supported by the appreciation of the dollar against its main counterparts and higher U.S. Treasury bond yields.
In turn, WTI oil price declined 1.3% to US$77.6 per barrel between May 15 and 22.
This drop was due to the unexpected increase in U.S. crude inventories and higher non-OPEC oil production.