GS u-turn on copper. Now +ve13 Dec 2016 14:05
"The improvement in demand growth was much stronger than we had anticipated and appears likely to absorb much of the 'wall of supply' that we had expected would drive prices lower during 2H16 and early 2017," the bank's analysts said.
This is fabulous news ... Goldman's negative position + hedge fund positioning contributed massively to copper slide ... now they and the HFs will be going very long. IMO.
Fabulous news.