Market's view on Central Asia Metals
Published on April 2024
- Copper prices have risen to a 22-month high, reaching $9,739 a metric ton, with bullish forecasts suggesting an average of $15,000 per ton next year.
- A stock watcher reports a significant share price increase over the past month, with unexpected rapid and steep growth.
- Recent underperformance at Kounrad and SASA is attributed to winter weather and disruptions due to a shift to paste fill mining.
- Confidence in economic recovery and a sudden supply drop have contributed to soaring copper prices.
- A stock watcher received a company email, detailing investments in CAML X and Aberdeen, aiming to build a long-term pipeline, with ongoing searches for a major transformational project akin to Sasa.
- CAML is noted as starting to gain momentum, with a stock watcher expressing confidence in the management’s cautious approach, enhancing investment security.
- Traders anticipate a supply squeeze in copper, with current market contango being the largest in two decades, indicating higher future prices.