COPPER MCX :Hurdle @ 411—413 & then ?? 418—420+++
NICKEL : Above 780.50, Target 791—794+++++
copper market will see persistent undersupply in the coming years, as global consumption, driven by China’s power and infrastructure sectors and increasing EV production, continues to outpace supply growth, Fitch warns.
Based on Fitch’s data, global refined copper demand will outpace production and the market will be in deficit over the next few years. Fitch specifically forecasts the global refined copper balance to register a deficit of 247kt in 2018, and to remain under-supplied through to 2021.