RE:RE:Copper $4.55Copper last traded @ $4.57.
I think the world consensus is out to lunch and so is the PR guy for MARI.
There is no way in the world will copper ever trade at $4 again but that is JMHO.
Here are the drivers.
The green push is on due to climate change. The world is shutting down nuclear plants and coal plant except for China. What are you going to replace them with???
All the major automakers are pushing electric vehicles. I think Nissan or somebody has shut down R&D on their gas engine. Tesla has sold way more cars then they projected for 2021.
Covid is causing major inflation. Worker pay is not keeping up. The workers at Tech could be striking. Chile has a new government. If they put the big tax on the mines and copper is @ $3.5. Do you think they will be profitable?? If their not profitable then shut it down.
The supply side could be questionable this year. If it is then copper will easily hit $5.
The demand side is pointing towards more demand.
Simple supply and demand.