Normal
If copper breaks down under US$4/lb then I'm out, but I don't see that happening with supply tightening and sentiment high. I think the recent selloff was profit taking and Ukraine war jitters and mostly unrelated to the fundamentals.If recession becomes an issue in the next few months then we'll see other metals like iron ore and zinc turn bearish before copper I reckon because of copper's connection to the green economy and decarbonisation. Short term, I think we're heading back to US$4.80/lb.
If copper breaks down under US$4/lb then I'm out, but I don't see that happening with supply tightening and sentiment high. I think the recent selloff was profit taking and Ukraine war jitters and mostly unrelated to the fundamentals.
If recession becomes an issue in the next few months then we'll see other metals like iron ore and zinc turn bearish before copper I reckon because of copper's connection to the green economy and decarbonisation. Short term, I think we're heading back to US$4.80/lb.
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