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 on the chart at lower right on Page 10 highlights March as the 2nd seasonally strongest month of the year for copper cathode (mined copper ore) prices since 1978. It represents a slight one-month seasonal improvement over February, the 3rd strongest month, but leads into the two weakest months of the year in May and June before more seasonal strength emerges in July.
The height of the teal bar indicates that, on average since 1978, copper prices have risen by 2.08% in March. The red line shows that, also on average since 1978, copper prices posted a positive monthly close 68% of the time in March, which is the second highest incidence of a positive close for any month during this period.