Copper prices (JJCTF) have come under intense downward pressure since the escalation of the US-China trade war. However, we believe that from a purely fundamental perspective, the refined copper market has tightened since the start of the year, despite the small surplus recorded in January and February. As bearish news is already priced in, we believe that the sell-off in JJCTF is overdone and JJCTF is ripe for a rebound in the coming months.
Source: Seeking Alpha
JJCTF in a nutshell
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