RE:Price of copperWhile not always the case, the price of copper is usually very sensitive to the state of the economy. If the US or other major countries were to go into recession, the copper price would likely drop further.
I think $4.00 is about right at this point given the FED has not executed a single interest rate cut to date for fear of reigniting inflation, but may make their first cut in September. FED Chairman Powell appears to want to make sure inflation is tamed for good before cutting, but of course waiting too long to cut rates may lead to a recession, which would likely cause a further drop in copper prices and likely even bigger share price drops in copper producing companies.
We shall see...