In March, copper broke above $4.10 resistance and quickly ran to over $5, fueled by short covering on U.S. exchanges. After a 50% retracement, it may be putting in a base around $4.50. BHP Group's failed $49 billion bid for rival Anglo American indicates acknowledgement of the need for new supply but a preference to buy it, not find it. That's likely an indication we're early in this cycle. If copper can maintain support in the mid-$4 range, it may be time to revisit the copper miners.
Complete the form and a member of our team will send you a copy of this publication.
While you wait, explore additional NDR research and solutions.
Institutional Investors
Custom Research
Wealth Managers
Stock Selection
ETF Selection
Please note that you are using an unsupported browser. While the site will continue to function, you might experience sub-optimal behavior until you upgrade. Please update your browser to a later version for a better experience.