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Can copper return to $10,000?

Constrained supply growth and surging demand from electric vehicles mean that we think that the price of copper will rise by over 60%, to nearly $10,000 per tonne, by 2025. This is likely to represent a high watermark for prices. Our long-term forecast suggests that, over the following decade, markedly slower Chinese growth, increased scrap supply and new mine output will push prices a third lower in real terms.
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Precious Metals Update

Gold’s lustre to return in 2023

Having fallen sharply in Q2, we think that the gold price is now close to a cyclical trough. What’s more, the price should revive a little in 2023 as markets factor in the prospect of US monetary tightening.

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Metals Data Response

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Metals Data Response

Global Aluminium Production (Jun.)

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Emerging Markets Economics Update

EM easing cycles not all to do with the Fed

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European Economics Focus

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Russia Activity Data (May)

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20 June 2019
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