Copper high in demand
In recent weeks, a further price rally was observed in industrial metals
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In February, many industrial metals reached multi-year highs. Although tin and nickel prices came under pressure in the short term, most analysts expect strong prices in the coming years. The LME industrial metals index even recorded a nine-and-a-half-year high at the end of February.
The copper price has shown particular strength in recent weeks. It is currently a good $4.08 per pound or $9,145 per ton. Some are already expecting five-digit prices, not least due to the high demand from China. Demand is also coming from the electromobility sector. After all, an electric car contains three to four times as much copper as conventional vehicles.
Another factor in favor of a rising copper price is the fact that investment in new copper deposits has been rather sparse over the last ten years, so that the supply is not exactly huge. According to calculations by the International Copper Study Group and also the World Bureau of Metal, there was a supply deficit last year, although this was higher than in the previous year. And unlike gold, copper is a commodity where supply and demand determine the price. A copper deficit is also expected by the majority of industry experts for the current year.
To bet on copper, you can consider investing in companies with copper in the ground, such as Hannan Metals or Adventus Mining.
Hannan Metals owns the San Martin property in Peru with high-grade copper and silver deposits. The concessions cover an area of 656 square kilometers. The infrastructure is excellent.
Adventus Mining has three gold-copper projects in Ecuador and additional projects in Canada and Ireland.
Current corporate information and press releases from Hannan Metals (https://www.resource-capital.ch/en/companies/hannan-metals-ltd/) and Adventus Mining (https://www.resource-capital.ch/en/companies/adventus-mining-corp/).
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