Oh baby! I'm excited
https://www.barrons.com/articles/these-miners-are-a-buy-because-the-copper-market-cant-keep-up-with-demand-51606233159
The price at which the demand elasticity is great enough to balance the market dep The price at which the demand elasticity is great enough to balance the market depends on the magnitude of the implied deficits, but in our base and bull case scenarios it is not unreasonable to assume the copper price would rise to at least $5.00 per pound for an extended period before demand would adjust enough to balance the market. This point is very much underappreciated, in our view,” say the analysts
https://ca.finance.yahoo.com/news/copper-pauses-near-6-high-132953441.html
With the outlook for growth brightening, copper has the strongest fundamental footing among base metals, with prices likely to top $8,000 a ton next year, according to Bank of America Merrill Lynch.
The metal’s key role in the renewable energy transition is likely to fuel increasing consumption, with Jefferies LLC warning of “unmanageable” global deficits in coming years.