Goldman Warns Copper's Parabolic Breakout Lacks Stability [zero hedge]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: zero hedge
Goldman Warns Copper's Parabolic Breakout Lacks Stability Copper futures on the London Metal Exchange opened the week with a breakout to new record highs ( see report ). On Wednesday, we highlighted a Goldman note detailing the " circular melt-up " mechanics driving the move higher. By Thursday, a separate Goldman analyst was cautioning clients that the parabolic move above $11,000/ton is unlikely to last . At 6:30 ET, LME copper futures hit a fresh record at $11,575/ton, driven by a scramble to move metal into the US warehouses ahead of potential Trump-era import tariffs and a burst of demand from Asia. The combination has intensified global tightening fears amid soaring AI data center buildouts and massive power grid upgrades. The question now is how long this breakout into record territory can last, and whether the momentum will carry into 2026. To address that question, a team of Goldman analysts led by Aurelia Waltham published an overnight note titled "Copper: Our Favourite Indu
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News
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- Copper hits record high in London amid global supply concerns [Seeking Alpha]Seeking Alpha
- Fear Grips Copper Market, Leading Prices to Record High [Yahoo! Finance]Yahoo! Finance