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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2019 | Base Metals


Copper: Some catching up to do


Copper has enjoyed a solid rebound since the start of the year, which we primarily attribute to an improvement in macro sentiment. While we expect further upward pressure in the near term, we recognize that the path for copper prices could prove more flattish over the next month because the macro seems to be playing a relatively weaker role judging by our cross-correlation analysis. Also, the present fundamentals are seasonally weak. Given its quarter-to-date average of $5,992 per tonne, copper has some catching up to do to align with our Q1 base case of $6,230 per tonne.

Copper on the rise but still...

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