A little bump expected on Monday ahead of the Memorial Day holiday in the US. As FY24 quickly draws to a close its interesting to consider analyst IO forecasts in light of the futures curve below which has strengthened considerably and is now remarkably flat. I note Goldman has $99 penciled in for FY25... and well if FMG wanted they could pretty much lock in $113 (ex VAT) nearly all the way out to May 2025 at this stage...
Copper tried to bounce again overnight but failed.... watch this space next week.
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