Copper (XCU) has pulled back from the recent high near $6.95, despite the drop in inventories in China. US Treasury yields have broken above 5%, which makes it harder for metals to rally in the short term. Uranium has a stronger demand outlook in the long term as Italy and Poland advance nuclear plans, but uranium ETFs remain weak in the short term. On the other hand, lithium also faces mixed signals from the EV market in China. This article presents the developments and key price levels that could shape the next move in copper, uranium and lithium.
Copper, Uranium and Lithium Price Forecast: 5% Yields Weigh on Metals
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Key Points:
- Copper needs to hold $6.60 support after pulling back from its recent high.
- Uranium ETFs remain weak despite new nuclear plans in Europe.
- Lithium miners face pressure as EV retail sales fall in China.