Citibanks view today:
COPPER “SECOND SECULAR BULL MARKET THIS CENTURY TAKING HOLD”
Commods team essentially go all in on copper… As of our March 18 quarterly outlook we believe copper’s second secular bull market this century is taking hold, 20 years after China urbanization and industrialization-led secular bull market, and after having been muted by cyclical weakness for the past 18 months. As a result, we recommend consumers urgently hedge their copper exposure over the next 3 years or risk up to $320 bn of cost increases, and investors build long exposure in the coming months or risking missing out. We think sub-$9,500k/t is ‘cheap’ on a 6-to-24-month view. We see prices trending higher to average $10k/t by Q4 2024 and $12k/t in 2026 in our base case.We think the recent rally has further to run near-term and revise our 0-3mth pt. price higher to $9,700/t (from $9,200/t
DYOR
Citibanks view today: COPPER “SECOND SECULAR BULL MARKET THIS...
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Last
3.7¢ |
Change
-0.001(2.63%) |
Mkt cap ! $32.79M | |||
| Open | High | Low | Value | Volume |
| 3.7¢ | 3.9¢ | 3.7¢ | $40.77K | 1.098M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 596222 | 3.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.9¢ | 250000 | 1 |
View Market Depth
| Last trade - 15.52pm 17/05/2024 (20 minute delay) ? |
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Last
3.7¢ |
Change
-0.001 ( 2.63 %) |
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| Open | High | Low | Volume | ||
| 3.7¢ | 3.8¢ | 3.7¢ | 135600 | ||
| Last updated 15.52pm 17/05/2024 ? | |||||
| HMX (ASX) Chart |