There are definitely signs that consumer demand has been picking up. Funds are buying heavily.
With supply just not arriving quickly enough, it is increasingly looking as though it will take a severe downturn in economic growth and copper demand growth to tip the market into surplus.
There definitely are signs that consumer demand has been picking up again worldwide while mining and smelting disruptions are boosting a supply shortfall.
The continuing delays in the delivery of supply mean we can expect prices to hold at least at current levels.
