Post by
highper on Apr 26, 2021 12:42pm
Copper Whopper ?
The rest of the Goldman Sachs report noted "Discussions of peak oil demand overlook the fact that without a surge in the use of copper and other key metals, the substitution of renewables for oil will not happen,'. The report added copper will be needed to create the new infrastructure systems required for clean energy to replace oil and gas, however, there has not been enough of a focus on this so far according to the report. Demand will therefore significantly increase, by up to 900% to 8.7 million tons by 2030, if green technologies are adopted en masse, the bank estimates. Should this process be slower, demand will still surge to 5.4 million tons, or by almost 600%. Goldman Sachs recently upgraded its 2025 price target to $15,000 per metric ton ($6.80/lb).
https://www.kitco.com/news/2021-04-26/Copper-breaks-resistance-to-trade-at-levels-not-seen-since-2011.html
Comment by
rusty111 on May 04, 2021 10:42am
https://youtu.be/K5oxqN-MWKA
Comment by
highper on May 04, 2021 1:17pm
we are only like 0.38 cents US per pound copper short of $6 canadian per pound copper. I'm surprised the story of a copper exploration explosion isn't on the front page of the rolling stone magazine.