Barclays Analyst Says He Is Still Cautious on Copper

The video discusses a cautious outlook on copper prices due to China's economic transition from industrial-driven to retail-driven growth. It highlights high steel margins in China and the potential impact of steel inventory restocking on prices. The analysis suggests that while steel margins remain high, the market dynamics could shift as inventories are rebuilt, affecting prices.

What potential impact does the restocking of steel inventories in China have on steel prices?

According to the text, what historical price dynamics are expected to return once steel inventories are replenished?