SFR surged +6.6% on Monday ending the session near its intraday high, an impressive session for this high beta copper play. As we discussed on Monday we are now bullish towards copper looking for a potential test of $US400/25,000 lbs i.e. a great tailwind for SFR assuming we are correct.
- We continue to like both SFR and copper into Christmas as we wait/hope for China to reopen its doors.
MM remains bullish SFR targeting a test of the $5 area
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