Copper has been an outstanding commodity performer year-to-date. Rallying about 10%, the orange metal has been one of the most debated topics on Wall Street. Global X Copper Miners ETF (NYSE:COPX) is up 28.20% year-to-date.
On one side are the bulls—Goldman Sachs, Citigroup and HSBC—arguing that supply shortages and structural demand growth could send prices into uncharted territory. On the other hand, JP Morgan warns that investors may be overlooking macroeconomic risks that could pull copper sharply lower.
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Finally, the current administration has its own say, as the White House has just revised its Section 232 tariff regime.
Supply Shocks and Tariff Fears
