Copper prices have surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper—much more than the industry is currently producing. Here’s how copper became so important to the world economy and the green energy revolution.
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if goldman start saying "buy", i start saying "sell". but that a side, if everyone switched to electric cars where wouldn't be enough copper. maybe that is why they want us to switch.
{quote} was right about them selling it off but completely wrong about where they would drive it to before to start selling if off. i'll probably be back in long later on tueday.
i've come back to copper today to understand why its not been my best friend of late. here is my long term view and remains unchanged. its going over 6 bucks no doubt in my mind (as shown) and probably going to over 6 to 7 something in the end.
