PRESS ROOM
Copper defies the pullback in risk assets
Thursday 04th March '21
The reflation trade is continuing to support metals like copper. Gradually improving economic data, vaccine optimism, and the prospect of additional fiscal stimulus in the US helps boost the metal’s bull run. The growing interest in emerging technologies that use copper (like electric vehicles) has given an additional impetus to copper prices. Front-month copper futures were up over 14% in February – compared to gains of 2.6% for the S&P 500 Index. This takes copper’s price gains to over 18% year to date compared to just over 10% for the Bloomberg Industrial Metals Subindex – an index that also includes aluminium, nickel, and zinc.