Copper Outlook Mixed as China Trade Data Send Conflicting Signals – ING
ING analysts note that China's copper trade data for May presents a mixed picture, with higher unwrought imports last month but lower year-to-date volumes amid stronger domestic refined production.
COPPER
ING's Warren Patterson and Ewa Manthey highlight that China's latest copper trade data are sending mixed signals. While unwrought copper imports rose in May, cumulative volumes from the start of the year remain down due to stronger domestic refined output.
The analysts also point to recent positioning shifts in the copper market, though the overall direction remains uncertain. The conflicting data from the world's top copper consumer has left the outlook for prices unclear.
Source: FXStreet Forex News