Last copper record was set in 2011, at the peak of the commodities super cycle, when China became an economic powerhouse on the back of its vast supply of raw materials. This time, investors are betting that copper’s big role in the global transition to green energy will cause a surge in demand and even higher price.
Trafigura Group and Goldman Sachs Group, the world’s largest copper traders, both said copper price could reach $15,000 a tonne in the next few years, driven by a surge in global demand as a result of the shift to green energy. Bank of America says it could even hit $20,000 if there is a serious problem on the supply side.
Post time: Jul-30-2021