COPPER PRICES SEND A BULLISH SIGNAL ABOUT GREEN GROWTHCandente Copper should do very well in the fast growing green economy as they have at least 10 billion pounds of copper...this is exciting!
Copper prices have a message for the world: expect to make a lot of wind farms, wires, electric cars and other staples of the green economy.
Prices of the metal pushed above $7,000 per tonne this week, the highest since December 2013. It was a sign not only that the economy is revving back up — promising recent vaccine trial data means the end of the Covid pandemic could be in view — but that investors are taking nations' pledges to spend heavily decarbonizing their economies at their word.
Seemingly bottomless Chinese demand for the metal is the main driver of copper's recent gains. China alone accounts for more than half of the world's copper imports. So far this year, it has already imported more copper than it did throughout of all of 2019, according to data cited by Bloomberg.
Investors are likely also anticipating plans by both the US and UK to lavish money on the wind and solar industries and on electric grid infrastructure. A strong conductor of both heat and electricity, copper is widely used in electrical equipment, especially electronics and wiring.
Copper prices per tonne on the London Metal Exchange on the first trading day of each month. Copper reached an 8-year high $7302 on November 24.
https://www.forbes.com/sites/scottcarpenter/2020/11/26/copper-prices-send-a-bullish-signal-about-green-growth/?sh=14d8fb9c679e