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Speculative interests in copper driving base metals narratives, says Sucden Financial
“Macro [factors] have kind of gone on the back foot in terms of driving the base metals and I think markets will still be focused on copper narratives and where copper is going,” she said. “Copper was the spotlight of the base metals market in the last quarter,” Efanova said. “We believe that copper’s upside that we have seen in the last weeks and months has been a key driver in driving base metals prices higher… the correlation with copper and other metals has strengthened significantly, suggesting that the spike that we have seen in copper prices definitely led the rest of the complex higher,” she ... (full story)
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- Posted: Jul 23, 2024 12:50pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 191
