A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading today on the Web
Citi mining analyst Ephrem Ravi’s Tuesday research report is called Super-cycle sunrise? Copper to $10k/tonne sooner rather than later,
“We upgrade our 0-3 month copper point price to $9,000/t and 6-12 month point price to $10,000/t, based on our updated copper model balances, which point to a deep deficit during 2021 and low inventories for years to come … Prospects for a super cycle in copper and aluminium are real, as we see strong decarbonization-led demand for copper, and decarbonization-led supply constraints for aluminium, keeping inventories low despite an eventual turn in the global cycle”
The current copper price is about US$8250 per tonne.