Listen to the latest market mood for Copper.
After a blue sweep victory for the Democrat party in the US there is potential for more upside in Copper. Joe Biden has said that he will spend around $2 trillion over four years to improve infrastructure, create zero-emissions, public transport and create clean energy jobs. So, a Biden Presidency stands to encourage significant green tech spending. This will benefit copper as it is a key commodity associated with green technology. The conductivity of copper make it an ideal material to use. Furthermore, construction is the second largest sector for copper demand, so growth in this sector also helps copper prices.
Therefore, expect copper future buyers from pullbacks.
Trade Risks: The main risk to this trade is from weak consumer demand or delay in stimulus spending.