(VIANEWS) – Southern Copper Corp. fell short of its quarterly production expectations, as the fifth-largest global producer has to deal with the effects of the pandemic.
Bloomberg Quint reported that while producers are enjoying record profits due to the high price, but their operations are being hit hard by Covid-fighting efforts. Southern was forced to process less-quality ore after completing earthworks and maintenance last year, in an effort to keep production at a lower level.
Copper (HG=f) is currently on bullish momentum. At 17:04 EST on Monday, 26 July, Copper (HG=f) is at $4.59 and 4.39% up since the last session’s close.
Today’s last reported volume for Copper is 104376, 100% below its average volume of 20616337430.97.
Concerning Copper’s daily highs and lows, it’s 3.633% up from its trailing 24 hours low of $4.43 and 3.109% up from its trailing 24 hours high of $4.45.
Copper’s last week, last month’s, and last quarter’s current volatility was a negative 0.09%, a negative 0.06%, and a positive 1.07%, respectively.
Copper’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 1.40% (last week), 0.88% (last month), and 1.07% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Copper’s commodity is considered to be oversold (<=20).
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