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A Copper Bug asks ‘who got copper’?
The copper price has climbed to within spitting distance of 4 bucks a pound, on news that the Federal Reserve’s interest rate-hiking cycle is likely over and a weakened US$. chart Increased demand for copper to a loosening of monetary conditions is one reason to be bullish, but copper bugs like us at AOTH know the real copper price driver is under-supply. To illustrate: the copper price hit a near 10-week high at the end of November due to the surprise closure of First Quantum Minerals’ Cobre Panama, one of the world’s largest copper mines. The copper market narrative has been one of shrinking supply in the ... (full story)