GS Copper7 Sep 2020 14:17
Goldman’s ‘favorite’ commodity has been on a tear, and could have further to run
PUBLISHED MON, SEP 7 20205:36 AM EDT
Elliot Smith
@ELLIOTSMITHCNBC
Goldman Executive Director Jack O’Brien and his team attributed their optimism in part to a recovery in the autos and appliances sector, ongoing strength in the Chinese property market and the second-highest single-month credit issuance in China on record.
Copper remains Goldman’s “favorite” commodity on the basis of cyclical and structural support and ongoing supply issues, with Glencore and BHP the companies best positioned to benefit from rising copper prices, according to the bank.