Copper: Tariffs and deficits keep prices bid – TD Securities

TD Securities analysts see Copper remaining well supported as a key beneficiary of the debasement and diversification trade. They argue that strategic stockpiling by major consumers, tariff concerns and a deep supply deficit will push Copper to new highs over the next six months. Aluminum is also expected to trade near record levels under similar tariff and supply constraints.

Strategic buying and tight supply

"Meanwhile, gold, silver, and copper will all benefit from the debasement trade, which includes commodities as a diversifier asset in portfolios and a weak supply side."

"Strategic accumulation of copper by key global consumers, tariff concerns, a deep deficit, and increasing interest in commodities as portfolio diversifiers are projected to drive copper to new highs over the next six months."

"Aluminum is also expected at near record price levels amid the 50% US tariff, weak production growth and regional deficits."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)