Citi says copper looks supported in the near-term around USD 13k/t; base case is headwinds from US tariff and inventory dynamics see copper moderate towards USD 12k/t by Q4'26
Context
Citi's outlook on copper suggests near-term support around USD 13k/ton, yet anticipates downward pressure towards USD 12k/ton by Q4'26 due to US tariffs and inventory trends. This forecast indicates potential fluctuations in copper prices, likely impacting broader commodity markets and related sectors, especially considering its role in inflation dynamics and industrial demand.
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