Investors have been bullish on copper bets, anticipating a shortage, but China's slowdown is impacting the market. Analysts predict a deficit of 600,000 metric tons over the next three years, with Citi expecting demand to exceed supply.
"At least some of the recent inflow has come from China where smelters have capitalised on LME copper's spike to a record nominal high in May. China can afford to ship some units. ShFE stocks are⬇️only slightly frm 4-yr high earlier in Jun" @AndyHomeMetals https://t.co/2S805rJtnU
Why Copper Fever Is Breaking The energy-transition metal is still popular among investors, but bets on a looming supply crunch look less sure than a month ago https://t.co/CuYSrMSUl2
🔆 Although the market was in a surplus for the first four months of the year, analysts say that will soon change. Citi expects copper demand to exceed supply this year and is penciling in a deficit of around 600,000 metric tons over the next three years. Goldman Sachs… https://t.co/nq68eJI9D8 https://t.co/AKo3Ui9PvY
Heard on the Street: Investors have piled into bets on a looming copper shortage this year. That itself is helping to ease the potential problem—and spoil the party for latecomers. $FCX $TECK $SCCO $CPER https://t.co/jpgFjGYuZL via @WSJ
Heard on the Street: Investors have piled into bets on a looming copper shortage this year. That itself is helping to ease the potential problem—and spoil the party for latecomers. https://t.co/WE3LUgPkKI
Hedge Funds’ Bullish Copper Bets Run Into China’s Slowdown https://t.co/xqvkLxLdyb