Scotiabank cautious on copper demand outlook, sees hope in US-China trade progress

Scotiabank is cautious on near-term copper demand outlook due to macro uncertainty, but U.S.-China trade war de-escalation efforts offer hope for avoiding global economic shutdown

Brokerage sees copper market to experience modest supply deficit in near term due to low inventory levels, with significant shortage emerging in medium term due to limited supply growth

"We forecast visible inventories to modestly decline this year and remain at relatively low levels in the years ahead, supporting a robust price environment," Scotiabank says

Scotiabank upgrades rating on Freeport-McMoRan FCX.N to "sector outperform" from "sector perform"

Brokerage raises PT on following companies: