『Can Copper Spread Recover After 30% Crash? BofA Unveils Global Arbitrage Play』のカバーアート

Can Copper Spread Recover After 30% Crash? BofA Unveils Global Arbitrage Play

Can Copper Spread Recover After 30% Crash? BofA Unveils Global Arbitrage Play

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BofA Securities August report exposes copper tariff turmoil: CME-LME spread collapsed from record 30% to zero in single day as US stockpiled 600kt (40% annual demand). Report identifies LME-CME spread as strongest mean-reversion relationship outside energy pairs. Recommends overweight gasoline, soymeal, precious metals while underweight WTI crude. 16% effective tariff rate reinforces stagflation risks with 6-month positive outlook for Brent and industrial metals.

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