Macquarie analysts predict a surplus of copper through 2028, with a potential price correction in 2027. Despite current price increases driven by potential US tariffs and financial market momentum, the firm notes record stockpiles and weak demand. This suggests that the current price tension does not yet reflect a genuine physical shortage of the metal. AI
IMPACT Copper demand is influenced by AI data centers, impacting its market outlook.
RANK_REASON Analysis from Macquarie regarding copper market trends.
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