On May 1, I wrote about copper futures falling below $4 per pound on Barchart. In that article, I highlighted copper’s bullish fundamentals, including the green energy initiatives increasing worldwide copper demand and falling copper inventories in the London Metals Exchange and COMEX warehouses. I concluded the piece with the following:
Copper’s short-term trend remains lower in early May, but the fundamentals suggest the red metal will find a bottom sooner rather than later. I favor accumulating copper on a scale-down basis during the current price weakness.
