Morgan Stanley on copperMorgan Stanley on copper......."Copper prices supported by supply disruption and economy stimulus globally, despite weak downstream demand. Global copper concentrate production declined 2% YoY due to multiple disruptions globally. This together with the stimulus measures, both in China and outside, could support a copper price recovery heading into 4Q19..."
We're past the stage of recognition of weaker copper demand and into the phase when governments and central banks enact measures that will stimulalte demand, which means the next phase (which we may already be entering, even if recognition of it will be some months away) is back to stronger copper demand from economic growth.