GF SECURITIES Assistant Director and Chief Strategist Liu Chenming: Copper takes over from gold, and the global manufacturing resonance will open new space for commodities

On December 19th, at the "Alpha Summit" co-hosted by Wall Street Watch and China Europe International Business School, Liu Chenming, Assistant Director and Chief Strategist of GF Securities, stated that copper prices are expected to replicate the trend of gold in early 2024. With global major destination inventories at historically low levels, coupled with the dual easing of fiscal and monetary policies worldwide next year leading to a recovery in manufacturing, copper prices have opened up new upward momentum after breaking the 10,000 yuan mark in the fourth quarter, which will become a core focus in recent asset allocation