Why Copper will go to $3/ lb soon3 Nov 2018 10:51
Copper prices went down mainly because of Speculators shorting., but not for long.
There are few factors that will push prices up to $3/lb soon :
1) World Industrial demand is almost the same, and stocks are getting low (LME Stocks are the lowest in more than four years)
2) Trump will make a deal with China by the end of the year, he did exactly the same with EU, Mexico, Canada and N. Korea. His Tactics are to create tension first, then set down and make a deal, and he did the same with all these countries, and he will do the same with China.
3) Once Copper starts to go up ( which has already did on the possible deal news), then we will see Kaz and generally all copper miners will go up with it.
I would predict that Kaz will reach £7 or more by the new year.
After a deal is confirmed with China, Kaz will continue to go up, as the fear of the Russian deal has calmed down now after the Q3 results.
I would predict that Kaz might reach £12 next year on continued Copper strength and great Production and Profits results.
GLA