Buy stocks and copper says this major broker
Buy base metals, particularly copper
Citi likes copper for a few reasons:
As a result of the above, Citi’s commodity strategists believe that “everything below 9k is cheap for copper”. FYI, copper is currently trading around US$8,700/t.
- The global manufacturing PMI is turning up and copper “performs well” when this happens
- Copper tends to rise in line with equity market bubbles, like the one we’re in now, as the wealth effect from stocks tends to lift copper consumption
- The long term energy transition is creating structural shift towards increased copper consumption
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- Ann: Updated Nifty MRE Reaches 1M Tonnes Contained Copper
Ann: Updated Nifty MRE Reaches 1M Tonnes Contained Copper, page-41
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Last
5.0¢ |
Change
0.001(2.04%) |
Mkt cap ! $76.23M |
Open | High | Low | Value | Volume |
4.9¢ | 5.2¢ | 4.8¢ | $98.72K | 1.982M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 76924 | 5.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.1¢ | 626748 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 76924 | 0.050 |
4 | 910416 | 0.048 |
3 | 322765 | 0.047 |
3 | 280000 | 0.046 |
3 | 64000 | 0.045 |
Price($) | Vol. | No. |
---|---|---|
0.051 | 250000 | 2 |
0.052 | 310161 | 3 |
0.053 | 1000423 | 1 |
0.054 | 700000 | 2 |
0.055 | 400000 | 1 |
Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
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