Copper: Upside Risks Dominate In The Second Quarter

Macro tailwinds, combined with copper's constructive fundamentals and a 'green' narrative in medium- to longer-term demand, could see upside risks dominate for copper during 2Q21, suggesting the red metal could be on a parabolic run, testing previous highs. However, this strength may dampen as the current restocking cycle approaches an end and slowing credit growth in China weighs on investment demand, which may become more evident in the second half of this year.  

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This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

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