The bank now expects copper to fall to $4.20 per pound and warns the 'buy the dip' trade is close to exhaustion. Ongoing war with no ceasefire has forced the research team to scrap its previous commodity outlook, implying increased downside risk for copper and related mining/industrial sectors. This represents a sector-level negative shock that should weigh on metals prices and positioning.
The bank now expects copper to fall to $4.20 per pound and warns the 'buy the dip' trade is close to exhaustion. Ongoing war with no ceasefire has forced the research team to scrap its previous commodity outlook, implying increased downside risk for copper and related mining/industrial sectors. This represents a sector-level negative shock that should weigh on metals prices and positioning.
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Request DemoOverall Sentiment
strongly negative
Sentiment Score
-0.60
