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OIL settled up 2 per cent on Thursday (Jun 6) after the European Central Bank (ECB) opted to cut interest rates, spurring hopes that the Fed will follow suit, and Opec+ ministers reassured investors the latest oil output agreement could change depending on the market.
Jeff Currie, Chief Strategy Officer at The Carlyle Group and former Global Head of Commodities Research at Goldman Sachs, has declared that copper is the new oil.
The rise of AI and the green energy transition are fuelling demand for the metal just as new mines become more expensive to build and harder to find
The electric vehicle, Artificial Intelligence, power infrastructure and automation boom will drive at least 10 million metric tons of additional copper demand by 2035
After rallying 15% in just two months, the copper price is at 15-month highs and analysts are betting on a bright outlook for the metal. They point to...