Cooper could reach $10!!https://www.kitco.com/news/2023-01-03/Copper-could-reach-10-as-markets-gears-up-for-commodity-supercycle-Gianni-Kovacevic.html
As markets get ready to see a “commodity supercycle” driven by electrification over the next decade, copper will experience a bull market, going as high as $10 per lb, according to Gianni Kovacevic, Founder of LithiumBank Resources and best-selling author of My Electrician Drives a Porsche.
“We are going [into] a commodity supercycle, especially with things that feed into the future of energy,” he said. “There is an ongoing pivot to electrification. The greener and cleaner the energy that is created, transported and utilized, the more there is demand for copper… You could see copper at either $9 or $10 per pound on an inflation-adjusted basis.”
Copper, which is currently trading near $3.80 per lb, is used in electric vehicles and solar panels, as well as in wind, hydro, and geothermal units. Compared to fossil fuel and nuclear sources of energy, copper is used five times as much in renewable energy systems.
“The copper industry is going to be very helpful,” observed Kovacevic. “It’s about having the solar, wind, or other [renewable sources] creating the electricity either directly or storing it in a battery, and then using electrical transportation. That is the power of copper.”