Commerzbank’s Barbara Lambrecht observes that despite falling LME Copper stocks and trimmed output guidance from a major producer, the recent Copper rally is losing momentum. She points to a retreat in China’s Yangshan import premium from multi-year highs as a cautionary sign, while also flagging upcoming International Copper Study Group data and US tariff decisions as potential drivers.
Tight stocks but softer demand indicators
“For the copper market, the monthly report from the International Copper Study Group – which is typically published between the 20th and 24th of each month – is expected to be relevant. This report includes supply and…
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