ING Sees Tight Copper Supply Supporting Prices
ING strategists Warren Patterson and Ewa Manthey highlight that copper's July rally has been driven by easing Middle East tensions, tight physical conditions, low inventories and firm Chinese import demand.
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Copper prices have extended gains in July, according to ING strategists Warren Patterson and Ewa Manthey. The metal has been supported by an improvement in risk appetite as Middle East tensions eased.
The strategists also point to tight physical supply conditions, with low warehouse inventories and robust Chinese import demand providing additional underpinning.
Source: FXStreet Forex News