{"id":19759,"date":"2024-05-15T09:02:09","date_gmt":"2024-05-15T17:02:09","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19759"},"modified":"2024-05-16T08:08:02","modified_gmt":"2024-05-16T16:08:02","slug":"copper-futures-today-may-14-2024","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/copper-futures-today-may-14-2024\/","title":{"rendered":"Copper Futures Today, May 15, 2024"},"content":{"rendered":"

Latest Copper Futures Updates May 2024<\/h1>\n
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Copper futures<\/a> in New York experienced a notable surge, rising up to 5.5%, influenced by a significant short squeeze. This drove the most actively traded July contract to peak at $5.026 per pound on Tuesday, nearing the historical high of $5.0395 from March 2022. Michael Cuoco from StoneX Group noted that those holding short futures and spreads were under pressure. This situation highlighted the July contract specifically, which traded substantially above the benchmark prices, such as those on the London Metal Exchange, and led to a rare backwardation in the market, with the July contract pricing 29.25 cents per pound higher than the September one. This anomaly caused shifts in copper shipments towards the U.S. market. Despite global market fluctuations, including declines in Chinese stocks and concerns about U.S.-China trade tensions, the copper price rally continued, driven by strong speculative interest and insufficient physical buying, which didn’t meet seasonal expectations. Copper Tube Mills responded by raising prices 5-8%, effective the following day. Copper demand remains robust, anticipated to grow further as some mines reduce output.<\/p>\n

Explore Copper Futures Trading in a practical setting using our risk-free simulator trading account. Experience real-time data and live price action without any obligations or the need for a credit card. Start trading today!<\/a><\/strong><\/p>\n

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Ready to start trading futures? Call US 1(800)454-9572 – Int\u2019l (310)859-9572 <\/strong>email info@cannontrading.com and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today. <\/em><\/p>\n

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Disclaimer<\/em><\/strong> – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 Past performance is not indicative of future results. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/em><\/p>\n

Important<\/em><\/strong>: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this writing are of opinion only and do not guarantee any profits. This writing is for educational purposes. Past performances are not necessarily indicative of future results.\u00a0<\/em><\/p>\n

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**This article has been generated with the help of AI Technology. It has been modified from the original draft for accuracy and compliance. <\/em><\/p>\n

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***@cannontrading on all socials.<\/em><\/p>\n

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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own\u00a0judgement\u00a0in trading.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Latest Copper Futures Updates May 2024     Copper futures in New York experienced a notable surge, rising up to 5.5%, influenced by a significant short squeeze. This drove the most actively traded July contract to peak at $5.026 per pound on Tuesday, nearing the historical high of $5.0395 from March 2022. Michael Cuoco from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19759","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=19759"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19759\/revisions"}],"predecessor-version":[{"id":19775,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19759\/revisions\/19775"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}