Copper 1Q Forecast: May Rise Further as Post-Covid Economic Outlook Clears 2021-01-03 14:00:00 Thomas Westwater, Analyst
Copper 1Q Forecast: May Rise Further as Post-Covid Economic Outlook Clears Advertisement
Copper prices plummeted in Q1 2020 as Covid forced governments to enact economically crippling lockdown measures. Global data improved by the second half of the year, beating initial estimates from central banks and governments. Copper s 2020 swing low preceded these data beats and went on to reach highs not seen since 2013 – see chart below. The red metal’s ability to act as a bellwether for economic growth is well established, hence the pseudonym, “Dr. Copper.”