Why Elon Musk Backs Copper? The Metal of the Future 2021-05-03 13:50:00 Warren Venketas, Markets Writer 2021 has witnessed a meteoric rise in copper prices as the metal gains traction after an expectant global economic recovery. The COVID-19 pandemic has given market participants time to reflect and analyse the future by which most avenues lead to or have some association with copper. Versatility of Copper (Cu) Copper has traditionally been seen as a barometer for economic growth due to its extensive use in industrial activity which may increase its correlation and importance to growth as the red metal finds its way into more and more applications.