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After breaking 0.01 million dollars, how much longer can the price of Copper continue to rise.
Morgan Stanley believes that although the current supply fundamentals of Copper are solid, the rise in speculative positions and tightening term spreads may exacerbate market volatility. Additionally, any changes in tariff policies could lead to market reversals.
Is there a crazy rush before Trump's tariffs? A large amount of Copper is about to "flood" the USA ports...
According to four insiders familiar with the shipping situation, it is expected that 0.1 million to -0.15 million tons of refined Copper will arrive in the USA in the coming weeks; if they all arrive in the same month, it is expected to exceed the historical maximum import record of 136,951 tons set in January 2022.
Hong Kong stocks are moving differently | Copper stocks rise against the trend as LME Copper prices surpass the 0.01 million USD mark, and expectations for import tariffs on Copper in the USA continue to escalate.
The copper stock rose against the market trend. As of the time of writing, MMG (01208) increased by 4.08%, trading at 3.06 Hong Kong dollars; WanGuo Gold Group (03939) rose by 3.13%, at 17.8 Hong Kong dollars; JIANGXI COPPER (00358) rose by 3%, at 14.42 Hong Kong dollars; CHINFMINING (01258) increased by 2.86%, trading at 14.4 Hong Kong dollars.
"After the 'gold rush', the USA fiercely 'rushes for copper', causing copper prices to rise sharply, with LME copper futures exceeding 0.01 million dollars."
Under the threat of tariffs, USA importers are hoarding Copper, causing the price of COMEX copper and the premium on LME to rise to over 1,200 USD per ton, approaching the historical high set in mid-February. Analysis suggests that this premium is reshaping the Global Copper trade pattern, with Asia potentially facing supply shortages, and this chaotic situation is supporting the rise in Copper prices in the short term.
Base Metal Prices Rise; Copper Gains on Narrowing Supply, Weaker Dollar -- Market Talk
Trump's trade policy disrupts the situation. Is the "Copper Doctor" economic barometer malfunctioning?
The recent rise in Copper prices is not closely related to the economic fundamentals.
