Copper Jumps to a Record High on Growing Market Disconnect

Copper closed at the end of last week (17th May) at $10,668/t, marking a significant 24.6% YTD increase, putting copper just behind tin and nickel as the third best performing base metal this year. However, this significant bull rally in copper has been driven by a growing market disconnect, with investment fund speculative buying into gross longs, versus a modest fundamental picture for 2024 and building risks in the macro-economic outlook.

To read more on:

• The Role of Speculative Investment Activity on Copper
• The Disconnect
• The Realities Within the Fundamentals
• Our View on the Macro Environment in 2024 Outlines Significant Risks

Please follow the link to the 'Copper Jumps to a Record High on Growing Market Disconnect'.