MarketPR
ING analysts have flagged a complex near-term picture for copper, citing contradictory signals from China — the world's largest consumer of the red metal — alongside a meaningful pullback in speculative long positioning.
The bank sees the market grinding in a range as constrained mine supply and uncertain demand from Beijing pull prices in opposite directions.
China's Demand Story Splits at the Seam China's mixed economic backdrop is at the center of ING's assessment.
Industrial output and manufacturing data have held up, aided by government stimulus targeting the property sector and infrastructure spending.
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