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Bloomberg stated on Thursday that copper futures had traded below $2 on Thursday. The report suggested that copper prices have not yet fallen far enough, with one analyst stating that the metal could fall as much as 25 percent more before meaningful cuts to supply are seen in the space.
Bloomberg stated on Thursday that copper futures had traded below $2 on Thursday. The report suggested that copper prices have not yet fallen far enough, with one analyst stating that the metal could fall as much as 25 percent more before meaningful cuts to supply are seen in the space.
However, one analyst was more optimistic. Dane Davis of Barclays told the publication:
If you have these temporary blips below $2, they make for great headlines, but I don’t think they change the decision making of these companies. If prices move down below $2 and they stay there, then it’s likely you’ll have additional production cuts.
