Copper prices are nearing $10,000 a ton, driven by a surge in demand anticipated from the recovery of the global economy and the expansion of sectors like electric vehicles, power infrastructure, AI, and automation. This demand surge is expected to create a need for at least 10 million additional metric tons of copper, as stated by Trafigura. The metal's price has increased by 15% over the last two months, reflecting its critical role in the energy transition and new technologies. However, the rally faces challenges as buyers in China, the largest market, are hesitant about the rising prices. The market is watching if copper, which is breaking out, can sustain this buoyancy amid fundamental tailwinds.
Shortages key to copper's upward price trajectory to new peaks https://t.co/eBbsMTpksj https://t.co/usFDP0GwOT
Copper’s powerful rally faces a test as buyers in China, the world’s biggest market, balk at prices near their highest in two years https://t.co/qU23TTjrER
COPPER IS PRICING MID-TERM STORY ON ENERGY TRANSITION: CURRIE
Copper prices up 15% in the last 2 months but @MichaelSantoli puts the move in perspective #copper #inflation #electrification https://t.co/cTai3RFhs3
Is Copper Breaking Out? Beta May Guide - Chart patterns for #copper appear bullish, so sustaining buoyancy in the metal said to have a Ph.D in economics could depend on fundamental tailwinds. My graphic shows copper transitioning what was resistance at around $4 a pound into… https://t.co/0ZjagbMGGC
Copper demand to boom as new technology drives power consumption, Trafigura says https://t.co/ZCr1dDc350 https://t.co/UeVRNNHCaY
⚠️ COPPER DEMAND TO BOOM AS NEW TECHNOLOGY DRIVES POWER CONSUMPTION, TRAFIGURA SAYS Full Story → https://t.co/RutevgQmXO Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional… https://t.co/2yxlTLMpKW
Copper Nears $10,000 as Investors Bet on Rising Global Demand https://t.co/GBUfNACLfa
Copper edged closer to $10,000 a ton after in a rally fueled by bets that a recovering global economy will lift demand for industrial materials https://t.co/OWC8Dc0nE6