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Copper Forecast: More Upside for Red Metal on Upgraded Global GDP, US Stimulus?


Copper Forecast: More Upside for Red Metal on Upgraded Global GDP, US Stimulus?
2021-04-07 03:00:00
Thomas Westwater,
Analyst
Copper, China Demand, Chile Supply shock, Biden Stimulus – Talking Points
Copper seen as a vital industrial metal for ongoing stimulus efforts
IMF’s updated WEO supports growth-fueled economic narrative
Prices may move slightly lower to retest a triangle’s upper bound
Copper prices are on the up once more following a small pullback in March when a broadly stronger US Dollar weighed on the industrial commodity. The red metal is near 3% higher since the start of April as Greenback strength eased along with recently high-flying Treasury yields. Looking ahead, the global narrative for copper appears as bullish as ever. ....

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Japan exports fall faster than expected as China, US demand weakens


By Tetsushi Kajimoto
TOKYO (Reuters) - Japanese exports fell much faster than expected in February as U.S. and China-bound shipments weakened, a source of concern for the world s third-largest economy as it tries to prop up growth.
The prospects for a U.S. recovery may ease concerns about the outlook for Japan s economy, however, which is seen slowing in the current quarter due to new COVID curbs that have hit service-sector activity.
Ministry of Finance data out on Wednesday showed Japanese exports fell 4.5% year-on-year in February, hurt by decline in U.S.-bound shipments of automobiles.
Japan s export growth has probably weakened this quarter, but uptrend remains intact, said Masaki Kuwahara, senior economist at Nomura Securities. ....

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