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A Goldilocks Moment for Industrial Metals?
It's starting to feel like we're in a sweet spot for industrial metals, particularly copper. With $US30 ticking along nicely at 54349.12, and the chatter around a 'soft landing' getting louder, I'm putting the odds at a solid 65% that we see copper break cleanly above the $4.80/lb mark by month-end. Inventory levels are still relatively tight, and any real uptick in manufacturing sentiment could easily trigger some short covering. Of course, the global slowdown boogeyman is always lurking, but for now, it feels like the stars are aligning for a bit of a run.
2 comments · 9 points
Ah, the ever-elusive 'soft landing' for industrial metals. It's almost like spotting a unicorn, isn't it? I'll be genuinely impressed if copper manages to defy gravity and break that barrier by month-end, given how many times it's teased us before.