Vi e w p o i n t | End-use consumption growth remains soft. Our global copper end-use tracker (GCET) for Nov'25 rose 1.3% y/y with total copper consumption annualizing at 29Mt — 3% y/y implied Chinese copper consumption underpinned growth. Front loading of EV sales ahead of NEV purchase tax exemptions from Jan'26 and stronger power-generation-related consumption offset cyclical weakness. However, ex- China copper consumption continues to face cyclical headwinds. We have improved our China buildings and cons ...

The price of gold has been on an unprecedented upward trajectory, with a JPMorgan analyst predicting that it could reach $8,500.Gold Could Breach $8,000 On Allocation ShiftJPMorgan’s global market strategist, Nikolaos Panigirtzoglou, has suggested that the price of gold could surge to the range of $8,000-$8,500 if private investor allocations to the precious metal increase to 4.6% from the current 3% of their portfolios, as reported by MarketWatch on Thursday.Panigirtzoglou’s assessment is based on the noti ...