Copper prices fell to a two-week low, but $CMOC(03993.HK) and $Global X Copper Miners(COPX.US) both edged up slightly; $Alcoa(AA.US) moved sideways, and $Albemarle(ALB.US) dipped slightly — industrial metal stocks and commodities are in a tug-of-war 🤔
Copper prices are signaling weak demand, while the stock side is betting on the volume and price realization during the mining companies' earnings season. One side has to be wrong.
The lithium sector is even weaker, with $Albemarle(ALB.US) still stuck in the mire of lithium price bottoming. Historically, the divergence window between commodities and mining stocks has mostly ended with the mining stocks turning back — will this time be an exception? Unless China's credit data this week delivers a surprise.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
