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COPPER CHAOS: Prices EXPLODE, Inflation ALERT!
Hold onto your wallets, folks! Copper prices in the U.S. have skyrocketed more than 14% since the beginning of the year, and the upward spiral shows no signs of slowing down! It’s a perfect storm brewing that could send inflation through the roof!
What’s fueling this frenzy? Brace yourselves: NEW TARIFFS! That’s right! A potential 10% tariff on U.S. copper imports is looming, following the already colossal 25% tariffs imposed on other commodities. Buckle up, because the price hike may just be the tip of the fiery iceberg!
CHINA’S COPPER DOMINANCE: More Trouble Ahead?
China is flexing its economic muscles once again! As the Year of the Rabbit kicks off, expect a REBOUND in economic activity that can ramp up copper buying like never before! Market analysts are eyeing a TARGET of $5 per pound—a dizzying height we haven’t seen since May last year!
SUPPLY CRUNCH: Is a Copper Shortage Looming?
Get ready for a shocking revelation: Chile, the copper giant, is teetering on the edge of a 118,000-tonne DEFICIT this year, even as production inches up by 4.6%. With more than 25% of the world’s copper supply, any hiccup in Chile could send shockwaves through global markets!
The supply side of the copper game isn’t looking peachy either! Stricter environmental regulations and daunting mining challenges are piling up! New mines are opening at a snail’s pace, and that means demand is about to collude with scarcity in a catastrophic cocktail!
TARIFF TREMORS: Could They Send Prices Soaring?
Don’t forget about the tariff talk from last week! Former President Donald Trump just hinted at potential copper tariffs! If these DO materialize, expect prices to catapult back up to $5 per pound—and fast!
TECHNICAL ANARCHY: Copper Prices on the Edge!
Copper has kicked off a wild rally, edging just below a crucial resistance level hit in September. But guess what? This pause might just be a moment to catch its breath before it SPLASHES through the roof! Should it break above $4.78 per pound, the $5 threshold is not just a fantasy—it’s a fierce possibility, opening the doors to new historical highs!
The nearest support level is hanging tight around $4.50, but watch out! A breakout here will signal a massive shift in market dynamics!
WHAT’S NEXT?
Copper enthusiasts, hold tight! The stakes have never been higher, and the copper market is on a razor-thin edge. Are you ready for the ride? The chaos is only just beginning!
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