Goldman Sachs: There is a significant divergence in sentiment towards copper between domestic and foreign investors

Wallstreetcn
2025.12.01 02:20
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Copper prices hit a new high, but there are differences in views between domestic and foreign investors. There is a significant sentiment divergence between Chinese clients (who are cautious due to weak demand) and Western trading institutions (who are bullish due to expectations of CMX pull). Goldman Sachs expects that the CMX copper premium (continuously rising compared to LME due to tariff expectations) may lead to new lows in LME inventories

Copper prices hit a new high, but there is a divergence in views between Chinese and foreign investors.

There is a significant sentiment gap between Chinese clients (who are cautious due to weak demand) and Western trading institutions (who are bullish due to expectations of CMX pull).

Goldman Sachs expects that the CMX copper premium (continuously rising compared to LME due to tariff expectations) may lead to new lows in LME inventories.

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