Heard on the Street: Surely a trade deal would mean much higher copper prices? Don’t be so sure.
Things have been looking up for copper. Prices for the red metal have risen about 4% since early September, after a dark and dreary stretch for it beginning in mid-2018. Like many growth plays, copper has been buoyed by signs of warming relations between the U.S. and China, after a bruising trade conflict.
The latest headlines show even a limited deal between the two powers this winter is no sure thing. But there are even more fundamental reasons to doubt the rally in copper—an important part of the investment case for mining...
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