Copper 'broke' the internet during the week, thanks to Copper metal prices breaching US$3.20/lb.
All due to the market’s bullish optics on China and forecast spending on 'green infrastructure', with Copper wiring at its core.
Many analysts consider Copper to be a stand-out across the metals complex not just because it is topical but also because it has the highest probability of (supply) deficits.
Analysts should be revising their Copper demand projections as they factor in green stimulus packages in China, Europe and, if Biden wins the presidential election, the United States.
Overnight, Copper futures (Dec'20) closed at US$3.14/lb.
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.
HAV Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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