Metals & Mining · Copper · Conviction · 3–12M

Copper / Cu

Review May 2026
Spot $12,996/t
LME 3M $12,996/t
Commodity Scorecard
Last Month Change · Waterfall
Spread To Neutral (3.0)
Standardized Spread
Price Forecast
Equity Translation
Stock Compare
Idiosyncrasy

Monthly Update

All inputs · tab-navigable
Review Period
Commodity Scorecard · FWD vs LAST
Historical Commodity Scores
Manual monthly FWD scores used in the spread-to-neutral chart. Starts Jan 2025.
Price Forecast · quarterly periods
Broker Median Forecasts
Blend Weights
Curve weight by quarter. Broker weight is the remainder.
Idiosyncratic Score Weights
Used for AGG in the Equity Translation remarks.
Final Score Weights
Used for FNL in the Equity Translation remarks.
Equity Inputs
Ticker
ImplCu
P/NAV
EV/EBITDA
Risk/Reward
FCF Yield
BQual
FinStr
CapAlloc
Juris
Val
QS
Remarks
CSV Import · Equities
Header row required. Columns: ticker, implCu, pnav, ev_ebitda, risk_reward, fcf_yield, qual, finstr, capalloc, juris, val, qs, note
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