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by Tyler Durden Friday, Apr 30, 2021 - 08:40 PM As if China didn t have (soaring) debt, (shrinking) demographic and (pent up) default nightmares to struggle with every night (and realistically, every day) it can now add one more splitting headache to its rosters of economic challenges: soaring prices in the one commodity that is absolutely critical for China s rapidly growing economy. Copper. While commodity and copper bulls have enjoyed a tremendous start to the year with the price of copper surpassing $10K earlier this week and set to make new all time highs, Copper’s eyewatering price - which Goldman expects to keep rising for years due to an unprecedented supply/demand imbalance - is causing ripples of stress for industrial consumers in China, the world’s largest market for the metal. As Bloomberg reports, some Chinese manufacturers of electric wire have idled units and delayed deliveries or even defaulted on bank loans, according to a survey by the Shanghai ....
By Andy Home LONDON: Funds continue to reduce their long exposure to the copper market even as the bull clamour for higher prices grows ever louder. Goldman Sachs last week doubled down on its supercycle shout, forecasting copper would average $15,000 per tonne in 2025 in a headline-grabbing April 13 research note titled Copper is the new oil . Citi is also firmly in the bull camp with a short-term target of $10,500. We highlight that the super part of the supercycle is now with the market facing the largest supply deficit since 2003-2004, the bank said. ( Metals Weekly , April 19, 2021) Copper is bubbling away just below February s decade high of $9,617 per tonne, London Metal Exchange (LME) three-month metal last trading at $9,400. ....
The Globe and Mail Andy Home Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Funds continue to reduce their long exposure to the copper market even as the bull clamour for higher prices grows ever louder. Goldman Sachs last week doubled down on its supercycle shout, forecasting copper would average $15,000 per tonne in 2025 in a headline-grabbing April 13 research note titled “Copper is the new oil”. Citi is also firmly in the bull camp with a short-term target of $10,500. “We highlight that the ‘super’ part of the supercycle is now” with the market facing the largest supply deficit since 2003-2004, the bank said. ....
Stock Image (The opinions expressed here are those of the author, Andy Home, a columnist for Reuters.) Funds continue to reduce their long exposure to the copper market even as the bull clamour for higher prices grows ever louder. Sign Up for the Copper Digest Sign Up Goldman Sachs last week doubled down on its supercycle shout, forecasting copper would average $15,000 per tonne in 2025 in a headline-grabbing April 13 research note titled “Copper is the new oil”. Citi is also firmly in the bull camp with a short-term target of $10,500. “We highlight that the ‘super’ part of the supercycle is now” with the market facing the largest supply deficit since 2003-2004, the bank said. (“Metals Weekly”, April 19, 2021) ....
EnergyColumn: Supercycle or China cycle? Funds wait for Dr Copperâs call Andy Home 5 minutes read Trucks carrying copper and other goods are seen waiting to enter an area of the Shanghai Free Trade Zone, in Shanghai in this September 24, 2014 file photo. REUTERS/Carlos Barria Funds continue to reduce their long exposure to the copper market even as the bull clamour for higher prices grows ever louder. Goldman Sachs last week doubled down on its supercycle shout, forecasting copper would average $15,000 per tonne in 2025 in a headline-grabbing April 13 research note titled Copper is the new oil . Citi is also firmly in the bull camp with a short-term target of $10,500. We highlight that the super part of the supercycle is now with the market facing the largest supply deficit since 2003-2004, the bank said. ( Metals Weekly , April 19, 2021) ....