“Dr Copper” as its often regarded as a leading indicator of future economic strength and the last 6-months of sideways consolidation again implies that investors are uncertain as to what comes next. The manner in which the base metal has ignored the uncertain tone from longer dated bond yields and the headwind of a rising $US suggests a healthy market and MM still expects a test of the psychological $US500/lb over the coming weeks / months i.e. around 15% higher.
MM remains bullish copper into 2022
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