Copper prices this could be an opportunity to buy the dip. They see potential for copper prices pulling back in the next coming weeks for the following reasons:
Copper prices
Copper and silver to Outperform Gold in 2021
Commodities witnessed an interesting end to a decade in 2020, which was for the most part unfriendly for the resourcessector. Investors brace for a new commodity supercycle in 2021 as globaleconomic recovery and reflation trades are set to play out strong. Industrial metals such as copper and silver are likely to outshine gold and crude oil prices.
Goldman Sachs : Copper Prices Target to $10,000 a tonne by 2022
Goldman Sachs : Copper, the traditional, age-old remedy for good health has also remained a significantly important economic health indicator. Rising copper prices, helped by strong order flows, indicate that the global economy is recovering fast.
Base Metals Market Update: Aluminium, nickel, zinc drift lower in futures trade amid weak demand
Aluminium prices fell 10 paise at Rs 133.90 per kg on Wednesday as participants trimmed their positions amid a weak trend in spot market.
METALS REPORT – Copper Eases Following Disappointing China Loan Growth Data
Gold Silver Reports (GSR) – U.S. President Donald Trump’s top economic adviser Larry Kudlow said on Tuesday that the United States welcomed the resumption of talks with China on trade.