Copper has bounced back towards its 2024 high in the last fortnight in noticeably stronger fashion than many other correlated markets. We remain very bullish the industrial metal believing the net wave of EV adoption is just around the corner, as BYD and CATL claim some incremental advancements in battery range and charging speeds, i.e. next generation batteries with 1500km range and a game-changing rapid charging rate of 520km in five minutes, or 2.6km/second.
- We are now looking for Cu to “take a rest” with the Dec’25 futures consolidating around the psychological $US5.00 area.
MM is bullish towards Copper (Cu) medium-term
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