Goldman Sachs — Copper is the new oil

This is a great read for anyone who is in doubt about the dynamics playing out in the copper markets and what that could mean for the price in the near to medium term. New mines are simply not being brought on fast enough, and supply dynamics look quite ordinary when considering the declining grade of copper at the largest operations in Latin America.

With additional demand driven from the green push for electrification and transition to renewable energy sources, the copper market faces the perfect storm, resulting in strong price volatility and a significant price response on the upside.

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