Analysts at TD Securities believe copper remains well supported as a key beneficiary of devaluation and diversification trades. He argues that strategic storage by major consumers, tariff concerns and a huge supply deficit will push copper to new highs over the next six months. Aluminum is also expected to trade near record levels under similar tariffs and supply constraints.
Strategic purchasing and tight supply
“Meanwhile, gold, silver and copper will all benefit from the debasement trade, which includes commodities as a diversified asset in portfolios and a weak supply side.”
“Strategic accumulation of copper by major global consumers, tariff concerns, deepening deficits, and growing interest in commodities as portfolio diversification is projected to drive copper to new highs over the next six months.”
“Aluminum is also expected to be near record price levels amid 50% US tariffs, weak production growth and regional deficits.”
(This article was created with the help of an artificial intelligence tool and reviewed by an editor.)
