Copper (Cu) is another commodity which has benefitted from the weak $A, and following last night’s +2% gain by futures in the US a test of 2024 highs, in $A terms, looks likely which is supporting the likes of local producer Sandfire (SFR), now up over +8% so far in 2025. We think Cu is poised to punch higher which aligns with our view that the local miners can enjoy a better year after struggling in 2024.
- We see copper testing its 2024 highs in the coming weeks/months.
MM remains bullish Copper over the medium term
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