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US$4/lb is looking like solid support for copper. The recent selloff looks to be over and a rebound appears to be in its early stages. Sentiment is bullish, with even news.com.au jumping on the copper bandwagon. The fundamentals are hard to argue with and talk of a supply squeeze won't go away.I think we'll almost certainly see US$5/lb copper in the next 12 months, but my money is on that happening before the end of 2022.[ATTACH=full]142435[/ATTACH]
US$4/lb is looking like solid support for copper. The recent selloff looks to be over and a rebound appears to be in its early stages. Sentiment is bullish, with even news.com.au jumping on the copper bandwagon. The fundamentals are hard to argue with and talk of a supply squeeze won't go away.
I think we'll almost certainly see US$5/lb copper in the next 12 months, but my money is on that happening before the end of 2022.
[ATTACH=full]142435[/ATTACH]
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