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Hello everybody, China made some interventions to spice up their financial system, however imo buyers are too optimistic on the end result within the quick time period. This possibly offers a brief time period improve in copper demand, however it is going to be quick lived imo. And within the meantime the copper inventories are nonetheless very excessive at present. Supply: https://stenoresearch.com/macro-nugget-chinese-copper-stock-continuing-to-baffle/ The LME copper shares are additionally very excessive in comparison with earlier months and years: https://www.westmetall.com/en/markdaten.php?motion=desk&discipline=LME_Cu_cash Quickly or later professionel buyers that elevated their bodily copper holdings in This autumn 2023 till August 2024, will begin to promote that copper once more to get money. Money to repay JPY loans possibly? My put up of a month in the past: https://www.reddit.com/r/Commodities/feedback/1ew068o/im_bearish_on_copper_for_2h2024_early2025_but/ I'm strongly bullish for copper within the Long run, as a result of the longer term demand of copper is big, whereas there aren't that a lot new huge copper initiatives able to turn into a mine in coming years This isn't monetary recommendation. Please do your individual due diligence earlier than investing Cheers submitted by /u/Napalm-1 |
