Copper looks very similarly positioned to the ASX having consolidated early gains in Q1 for over 6-months. However the industrial metals resilience in the face of the likes of Delta / Omicron and trade wars remains encouraging and our preferred scenario is another test of the psychological $US500/lb in the months to come i.e. around 15-20% higher.
MM still likes copper for an assault on $US500/lb into 2022
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