Global Seasonal Analysis is a monthly report that displays and analyzes annual, quarterly and monthly seasonal trends for 17 global asset prices including equities, benchmark interest rates, foreign exchange, and key commodity prices based on historical data going back to the 1950s.
The following is an excerpt from this month’s report.
Copper Monthly Seasonal Pattern Since 1978
The green bar in the chart below highlights May as the seasonally weakest month of the year for copper cathode (mined copper ore) prices based on data since 1978. It represents the beginning of a sustained period of seasonal weakness that runs through October, which is interrupted by one month of acute seasonal strength in July, the strongest month of the year.
The depth of the green bar indicates that, on average since 1978, copper prices have declined by 1.06% in May. The red line shows that, also on average since 1978, copper prices have posted a negative May close 54% of the time.