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Will Copper prices break ten thousand? Before the tariffs, there is a rush to import, and the trend of stockpiling in the USA may trigger a global copper inventory crisis.
Citibank stated that within the next three months, copper prices will break through the $0.01 million per ton mark, and the global copper market will remain tight until the USA's import tariff policy becomes clear. Goldman Sachs indicated that by the end of the third quarter, the rise in copper prices will cause USA copper stocks to surge from the current 0.095 million tons to at least 0.3 million to 0.4 million tons, accounting for 45-60% of the global reported inventory, while copper stocks in Other regions will be very low.
Citibank: Before the tariff timeline in the USA becomes clearer, Copper prices may reach $10,000 per ton.
Citi expects that in the next three months, Copper prices will reach $10,000 per ton and stated that the Global Copper market will remain tight until the timeline for USA import tariffs becomes clearer.
We Think That There Are Issues Underlying MMG's (HKG:1208) Earnings
Goldman Sachs: Maintain MMG (01208) "Buy" rating with a Target Price of 3.4 HKD.
The bank expects that, as a leveraged pure Copper company, the group will benefit from the rise in Copper prices and an increase in production.
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