SLVO - Industrial Metals Monthly: Has The Copper Rally Gone Too Far Too Soon?
2024-05-08 11:30:00 ET
Summary
- Our monthly report looks at the performance of iron ore, copper, aluminium and other industrial metals.
- In this month’s edition, we take a closer look at copper’s recent rally and explain why we think that prices are due a downward correction.
- The low level of housing starts will also continue to weigh on copper demand looking ahead, given the lag between starts and metals usage.
By Ewa Manthey
YTD metals performance %
Copper hits a two-year high
Copper prices have stood out over the last month, with LME prices breaking above $10,000/t for the first time in two years. Concerns over tightness in global mine supply and stronger demand from the green energy sector have boosted prices....
Industrial Metals Monthly: Has The Copper Rally Gone Too Far, Too Soon?