Copper Seen Lower as Tariff Distortions Unwind, TD Securities Says
TD Securities sees copper prices moving lower once tariff-related distortions fade, arguing the recent rally is driven by speculation and supply headlines rather than genuine demand.
HG
TD Securities takes a cautious view on copper's recent strength. Its analysts attribute the move largely to speculative positioning, tariff-related arbitrage flows and supply disruption headlines, rather than a broad improvement in underlying global demand.
As those tariff distortions unwind, the bank expects prices to move lower. The call frames current strength as technical and event-driven rather than a signal of tightening physical fundamentals.
Source: FXStreet Forex News