Copper is a fascinating commodity / industrial metal because it not only largely dictates the price of its producers such as OZ Minerals (OZL) but also because it is used by many as a leading indicator of global economic strength. The strong recovery over the last few weeks implies to MM that the economy and subsequently bond yields is poised for another leg up.
- Following its almost 20% correction MM sees copper testing the psychological $US500/lb area in the months ahead.
MM’s is bullish copper into 2022
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