RE:Copper prices As macroeconomic fundamentalist and contrarian trader in precious metals, one who began his education in the copper sector about ten years ago, (although we enjoyed the cash flow from Alumbrera when Wheaton River Minerals took a share and Yamana also had important copper credits) so maybe I just miss the point, but with the monumental changes happening in almost every aspect of our species existence, the picking of numbers as if they foretold the direction of market valuation of this or any high-risk speculative mining venture is IMHO delusional.
The price of copper is the greatest attractor for new retail investors looking to speculate in copper shares, and that is dependent upon two things: supply/demand ratio and the strength of the USD. A flight into the USD can happen should another economy show distress. While China is trying to put on a good face with a GDP half pre-covid, Evergrand’s auditor quits.
There also happens to be a war going on now – natural forces are attacking the infrastructure upon which our civilization (i.e., Global economy) is based, rendering critical components, from hydroelectric generation to flood control measures, useless or ineffective. What we are learning is that heating the atmosphere causes changes in global precipitation patterns. More in some places and less in others, but always with storms far more violent and destructive. Global migration won’t end, only increase and yet no one has a solution that pleases anyone.
"We expect growth in industrial commodities markets to be led by a resurgence in China, "
That is if the holiday there and the dispersal of tens of millions back to the countryside doesn’t result in the overwhelming deaths of their rural elderly and under vaccinated population. The potential exists for a real major disruption in their economic recovery.
Wall Street is the worst source for unbiased information. When not shilling for the house, they're usually just plain wrong. Not that they won't be able to explain how they missed it, because of "that nobody saw coming". I don't understand how forecasting no better than the herd is an adequate defense.
We have extolled the value of flexibility for survival. In chaos nimbleness is of great importance. Anything or anyone who cannot change and adapt to new conditions will fail, and the world is now facing a rapidly-developing historic global change. Adapt or perish, it’s your choice.
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