Copper (XCU) price consolidates in a tight range, while uranium and lithium ETFs test key support levels. The high US inflation keeps further rate hikes by the Fed in focus and could weigh on industrial demand. The strong Chinese exports offer some support, but high costs of fuel continue to squeeze mining margins. In my view, the broader outlook for copper remains positive, while uranium and lithium need to recover above key resistance levels to strengthen their outlook. This article presents the main economic drivers and technical levels that could shape the next move in copper, uranium and lithium.
Copper, Uranium and Lithium Forecast: Fed Hike Risks Cloud Recovery
By:
Key Points:
- Copper needs to break above $6.95 to strengthen its rebound.
- Uranium ETFs test major support after recent losses.
- Lithium ETFs remain vulnerable to further declines.