<\/p>\n
By all accounts, industrial demand has not been the driver of the strength in industrial metal prices \u2014 supply-demand balances won’t help you explain the cross-section of base metal returns this year, TDS’ Senior Commodity Strategist Daniel Ghali notes. <\/p>\n
“Instead, the strength in prices has been a function of the fragmentation in inventory systems. This has been particularly beneficial for Copper markets. Ultimately, the threat of tariffs has resulted in a virtuous cycle in Copper’s microstructure by continuing to incentivize a pull of available metal into the US, keeping the LME tighter than would otherwise be the case.” <\/p>\n
“Global inventory pools can now be more easily depleted than they can be replenished, fueling a new all-time high in LME prices as a result. The world is inching towards a war-time economy. Forget about a potential trade deal: this is the megatheme you want to trade today.” <\/p>\n
“Following the Five-Year Plan, expectations are rising for data center capacity growth in China, which could further upend supply-demand balances over the coming years. And, the world simply can no longer absorb mining disruptions in Copper markets; smelter output is increasingly vulnerable to a decline in byproduct precious metals revenues should prices subside.”<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
By all accounts, industrial demand has not been the driver of the strength in industrial metal prices \u2014 supply-demand balances won’t help you explain the cross-section of base metal returns this year, TDS’ Senior Commodity Strategist Daniel Ghali notes. Copper\u2019s rally driven by fragmented inventories, not fundamentals “Instead, the strength in prices has been a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-409568","post","type-post","status-publish","format-standard","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/409568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=409568"}],"version-history":[{"count":0,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/409568\/revisions"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=409568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=409568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=409568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}