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
4.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $62.51M |
Open | High | Low | Value | Volume |
4.0¢ | 4.1¢ | 4.0¢ | $186.8K | 4.653M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 134005 | 4.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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4.2¢ | 1417002 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 134005 | 0.041 |
1 | 125000 | 0.040 |
1 | 25000 | 0.039 |
1 | 262632 | 0.038 |
3 | 65553 | 0.037 |
Price($) | Vol. | No. |
---|---|---|
0.042 | 917002 | 6 |
0.043 | 1405257 | 7 |
0.044 | 932700 | 5 |
0.045 | 1124174 | 6 |
0.046 | 594561 | 2 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
4.0¢ |
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Change
0.000 ( 3.85 %) |
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Open | High | Low | Volume | ||
4.0¢ | 4.1¢ | 4.0¢ | 602009 | ||
Last updated 15.53pm 24/05/2024 ? |
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