[MEDIA] Eleni Joannides, Wood Mackenzie Principal Analyst, sees...

Eleni Joannides, Wood Mackenzie Principal Analyst, sees five key themes to watch in the global copper market during 2020.







Copper has been heavily dragged down by fears of the Coronavirus. Unlike gold, copper does not share a safe haven status.

Consequently, it is expected that the outbreak will weigh down industrial activity in China. As China is the world’s largest copper consumer, any slowdown will also mean dampened demand for copper.

The World Health Organisation announced that the recent Coronavirus outbreak does not qualify as a global emergency, just yet. This suggests that the Coronavirus is not as deadly as SARS was during 2003. Or at least, not yet.

With the Chinese Lunar New Year week off within China, a number of copper positions I imagine would have also been closed out based on the uncertainty associated with the Coronavirus outbreak.



Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.