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 1977
The green bar on the chart at lower right on Page 10 highlights May as the seasonally weakest month of the year for copper cathode (mined copper ore) prices since 1978. It is following by the 2nd weakest month, June, which then leads into the strongest month of the year in July.
The depth of the teal bar indicates that, on average since 1978, copper prices have declined by 0.78% in May. The red line shows that copper prices closely tracked their 37-year seasonal trend last year by peaking in February, declining into April, rebounding into July, then declining into the 4th Quarter.