Is copper momentary negative but long term fundamental buy?
Copper prices have been rising in the past two weeks as producers chile flagged supply risks.
1. Souring heat wave in west seek demand for energy generation
2. The demand in electric vehicle adoption would likely to grow despite risk of economic slowdown.
To add fuel to the fire, The largest miner of copper Chile posted a 1.5 percent YoY fall in Industrial production data in June of 2022, following a downwardly revised 1.7 percent rise in the prior month. The main drags on the industrial sector were mining and quarrying activities (-2.1 percent vs -0.3 percent in May)
1. Souring heat wave in west seek demand for energy generation
2. The demand in electric vehicle adoption would likely to grow despite risk of economic slowdown.
To add fuel to the fire, The largest miner of copper Chile posted a 1.5 percent YoY fall in Industrial production data in June of 2022, following a downwardly revised 1.7 percent rise in the prior month. The main drags on the industrial sector were mining and quarrying activities (-2.1 percent vs -0.3 percent in May)