According to Citic Securities' research report, overseas copper demand has already been restored. Under the expectation of resonance replenishment both domestically and overseas, coupled with the anticipation of a strong domestic consumer season and demands in the real estate and cable industries shifting from stagnation to stability, the recovery in the terminal market is expected to catalyze a strong operation of copper price. It is expected that the copper price range will run between $9,500 - $12,000/ton in the second half of 2024. Looking further ahead, the development of new energy, new economy, and emerging markets is expected to drive copper demand across the cyclical phase to the growth phase. The bullish supply and demand situation is expected to continue improving, providing a boost to copper prices. We recommend investing in the copper sector.
中信证券：预计下半年铜价运行区间为9500-12000美元/吨
Citic sec: It is expected that the range of copper prices in the second half of the year will be between 9,500 and 12,000 US dollars per ton.
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