- Analytics
- News and Tools
- Market News
- Copper to race higher once covid is brought under control in China – ING
Copper to race higher once covid is brought under control in China – ING
Copper has lost all the gains it made this year. But in the view of strategists at ING, the metal should rally once China recovers from covid.
China demand to recover once covid is under control
“Despite all the doom and gloom in the short-term picture, we are cautiously optimistic about copper in the medium term once China brings the virus under control and becomes more confident in easing lockdowns. However, the magnitude of demand pick-up will depend largely on the scale of the stimulus and, in particular, the policies relevant to those copper intensive sectors, such as the power infrastructure and the property market.”
“Our base case average prices remained unchanged for 2Q at $10,000/t from the previous update, but some potential upside episodes driven by a demand recovery may be delayed into late 2Q22 or 2H22 rather than sooner. And currently, our price forecasts remain unchanged for 3Q at$9,900/t and 4Q at $9,800/t (LME 3M quarterly average).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
