Research & Stock Picks

Company Reports

13 January 2025

By

Copper Weekly (06 – 10 January 2025): Avg. USD 8,917/ton (+2.1% WoW)

Recent Catalysts Driving the Price

  • In the last five trading days, copper prices increased +2.1% WoW to USD 8,917/ton, driven mainly by 10,100 mt drop in China’s inventories to 105,700 mt, reversing a 2-week drop and signalling recovery in demand amid tighter supply.
  • The upcoming Chinese New Year offers additional support for copper demand, as it traditionally drives manufacturing activities and consumer spending, boosting the need for copper-intensive products such as electronics, appliances, and decorative items. This, coupled with China’s target for net-zero emissions by 2060 and planned 1,200 GW solar capacity by 2030—requiring significant wire consumption—may provide further support for copper prices.
  • In FY24, avg. copper price reached USD 9,143/ton (SSI: USD 9,150/ton). However, in the short-term and for FY25, we are concerned over China-US trade war and global economic uncertainties, and thus, we set our 12M avg. copper price forecast at USD 8,500/ton (YTD: USD 8,853/ton), down 7.0% YoY. Stockwise, MDKA is our top pick with TP of IDR 2,000 (EV/EBITDA FY25: 10.5x), supported by its path to profitability and completion of the Weda Bay smelter in 4Q24.

Share This:

optimisme tembaga

Download PDF

Download PDF

UPDATE_Copper_Weekly_20250113

Download PDF

UPDATE_Copper_Weekly_20250113

More Related

Morning Briefs

Jan 14, 2025

Technical Stock Analysis

Jan 14, 2025

Economic Reports

Jan 13, 2025

Company Reports

Jan 13, 2025

Economic Reports

Jan 13, 2025

Morning Briefs

Jan 13, 2025

Technical Stock Analysis

Jan 13, 2025

Technical Stock Analysis

Jan 10, 2025

Morning Briefs

Jan 10, 2025

Economic Reports

Jan 10, 2025

Company Reports

Jan 9, 2025

Technical Stock Analysis

Jan 9, 2025

Economic Reports

Jan 8, 2025

Morning Briefs

Jan 8, 2025

Technical Stock Analysis

Jan 8, 2025

Economic Reports

Jan 7, 2025

Company Reports

Jan 7, 2025

Technical Stock Analysis

Jan 7, 2025

Morning Briefs

Jan 7, 2025

Economic Reports

Jan 7, 2025

Morning Briefs

Jan 6, 2025

Technical Stock Analysis

Jan 6, 2025

Morning Briefs

Jan 3, 2025

Technical Stock Analysis

Jan 3, 2025

Morning Briefs

Jan 2, 2025

Technical Stock Analysis

Jan 2, 2025

Morning Briefs

Dec 30, 2024

Morning Briefs

Dec 27, 2024

Technical Stock Analysis

Dec 27, 2024

Company Reports

Dec 24, 2024

laba bank bmri

Company Reports

Dec 24, 2024

laba bni

Company Reports

Dec 24, 2024

Morning Briefs

Dec 24, 2024

Technical Stock Analysis

Dec 24, 2024

Morning Briefs

Dec 23, 2024

Technical Stock Analysis

Dec 23, 2024

Economic Reports

Dec 22, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Dec 20, 2024

Company Reports

Dec 20, 2024

penurunan nikel

Company Reports

Dec 20, 2024

Technical Stock Analysis

Dec 20, 2024

Morning Briefs

Dec 20, 2024

Economic Reports

Dec 20, 2024

Economic Reports

Dec 19, 2024

Morning Briefs

Dec 19, 2024

Technical Stock Analysis

Dec 19, 2024

Economic Reports

Dec 19, 2024

Economic Reports

Dec 18, 2024

Morning Briefs

Dec 18, 2024

Technical Stock Analysis

Dec 18, 2024

Economic Reports

Dec 17, 2024

Technical Stock Analysis

Dec 17, 2024

Economic Reports

Dec 16, 2024

Economic Reports

Dec 16, 2024

Morning Briefs

Dec 16, 2024

Technical Stock Analysis

Dec 16, 2024

Morning Briefs

Dec 13, 2024

Technical Stock Analysis

Dec 13, 2024

Economic Reports

Dec 13, 2024

Technical Stock Analysis

Dec 12, 2024

Morning Briefs

Dec 12, 2024

Morning Briefs

Dec 11, 2024