Shanghai's copper futures surge due to supply risks and rising demand, with Citi predicting a $10500 per tonne price in the next 3 months. Commerzbank raises copper year-end forecast to $9,800 per ton. Shanghai copper hits 80,000 yuan per barrel, highest since 2006.
The rise in global Purchasing Managers' Index (PMI) above 50 is a positive sign for manufacturing activity and future commodity demand. Copper prices reaching their highest level since June 2022 indicates increased demand for industrial metals, which historically correlates with… https://t.co/PdI4gFYls4
Conventional wisdom: * Rising copper price = bullish ("Dr. Copper" 🩺) * Rising gold price = bearish YTD 2024: * Rising copper price + rising gold price = ??? https://t.co/fpykpH4rft
This copper stock chart keeps getting more and more extreme in China. What is going on? More -> https://t.co/zcP86RyOcI https://t.co/wcCs9sxh6k
Shanghai #copper rises above 80,000 yuan per barrel in the night session, to the highest level since 2006. #China https://t.co/WofgfChQjW
Commerzbank raises forecast for #copper, sees the year-end price of $9,800 per ton (previously $9,200), also expects #gold to $2,300 per ounce(previously $2,200), sees Brent crude oil to $90 per barrel by the end of 2Q. #OOTT
âš¡Shanghai #Tin extends rally to over 5%, to the strongest level since May 2022. #Nickel +2.5% and #copper +2.3%. #China https://t.co/0FNwuvm4Xs https://t.co/SYGBa9geXy
#China's #copper futures in Shanghai stage a strong rally amid supply risks and improving demand. Citi expects copper price to hit $10500 per tonne over next 3 months. https://t.co/haGgRmRP6L https://t.co/yMei9YGgYW