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A New Copper Supercycle Is Emerging
With all component groups advancing, the Nasdaq Sprott Energy Transition Index Materials (NSETM) had another strong month in May, increasing 6.35% to close at 1,082.71. The index has now posted three straight months of 6%+ returns and appears to be breaking out of its two-year-long consolidation (see Figure 1). Copper continues to lead—during the month, it climbed closer to an all-time high of $4.90 per pound before retracing to its breakout level. Copper mining stocks made new all-time highs during the month. Spot uranium continued to consolidate in May, while the uranium miners sector rallied almost 12% to an ... (full story)
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- Posted: Jun 11, 2024 12:54pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 301
