- High demand for EVS, renewable energy production, the Green New Deal, means copper production is below demand and expected to be in shortage for years - Stimulus spending and inflation of industrial goods - Producers cannot increase supply fast enough, examples: Freeport CEO "It will take 7-8 years to get new production to the market", "Oyu Tolgoi (Mongolian super mine) is set to bring a further 480,000 tonnes of copper into the market from 2028"
- Traders taking profit (short term) - An end to all the renewable projects - A total collapse of civilization?
This is what happened with the previous price explosion in the 2000s
As the price consolidates around ATH we might want to bet on the price going up up up in usd terms
I'd just go for the DEC 2022 contract, or a DEC 2022 call:
There is a discount on that contract too (backwardation).
At a price of $4 1 contract = $100,000. A 10% stop is a risk of $10,000. So maybe we'll just take short term trades on the way up. Unless we all become millionaires in a few months with Cryptos?
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.