Copper, the flagship base metal posing the ability to forecast the state of the economy in general and the metal markets in particular. But none of the other base metals have followed copper’s recent rally, and industry experts do not expect that it will have very long legs.

Orest Wowkodaw, an analyst at Canaccord Adams, stated:

We recognize there’s a lot of momentum on the upside, and we’re just trying to balance the inflation hedge and the stockpiling versus what’s really happening on a fundamental basis, which doesn’t look very good at the moment.

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