Copper has gained 26% so far this year and this week hit $9,758 a tonne, its highest level since the summer of 2011. Copper got a big boost last year from Chinese infrastructure building. Now the US is following suit, says Myra Saefong for MarketWatch. Joe Biden’s $2.3trn infrastructure package and green energy plans will require massive quantities of copper wiring.
The virus also accelerated the advent of the digital economy, says Rob Haworth of U.S. Bank Wealth Management. “Semiconductors, data centres and cellular towers” all need copper. Supply is not rising fast enough to meet demand. Miners have underinvested in new capacity in recent years and developing new mines is a lengthy process.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Global equities that should weather the stockmarket's stormsOpinion Alex Illingworth of Goshawk Asset Management highlights three diverse opportunities in global equities despite a turbulent landscape
-
8 of the best houses for sale with dining terracesThe best houses for sale with dining terraces – from an Arts & Crafts property in Great Missenden, Buckinghamshire, to a duplex apartment in a garden square in Kensington with a decked roof terrace
-
US stocks are more expensive than ever after Trump's tariffsWe don’t need to second-guess the effect of Trump's tariffs to think that the rest of the world offers better value
-
'The EU Chips Act is another epic failure of state planning'Opinion The European Chips Act has been a complete disaster. That holds a broader lesson for governments, says Matthew Lynn
-
How to use SAYE and SIP schemes to multiply your moneyEmployers’ savings or share-incentive plans like SAYE and SIP schemes can help top up your pension
-
Farming isn't for the faint-hearted – there are no profits to harvestOpinion Farming may look appealing, but turning a profit is extremely hard. No wonder many farmers are attracted to the Sustainable Farming Incentive, says Max King
-
AJ Bell: a fine British fintech going cheapOpinion Don’t overlook investment platform AJ Bell, a significantly undervalued British business with an excellent financial base
-
The British railway industry is in rude health – here's why investors should jump aboardThe railway industry has bounced back from the devastating impact of the pandemic and is entering a new phase of development – and profitability
-
Infrastructure investing: a haven of stable growth amid market turmoilFrom booming construction in emerging markets to digital and green transitions, the infrastructure sector offers security, returns and long-term opportunities
-
A long bull market beckons for copperOpinion Ignore short-term volatility: a worsening supply squeeze implies far higher prices in future, says Albert Mackenzie, copper analyst and market reporter at Benchmark Mineral Intelligence
