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Copper Prices Skyrocket: Historic Buys Fuel Rally
28 Sep
Summary
- Copper prices are hitting record highs, with a significant rally expected to continue.
- Both the U.S. and China are engaged in historic stockpiling of copper.
- Deutsche Bank predicts a substantial further increase in copper prices.
Copper prices are currently experiencing record-breaking surges, with projections indicating a sustained upward trend. This rally is largely attributed to significant stockpiling activities undertaken by both the United States and China.
Deutsche Bank's head of metals research, Daniel Ghali, anticipates that this historic accumulation of copper reserves by major global players will fuel further price increases. China, in particular, has a long-standing practice of storing copper in its strategic reserves, a practice now being mirrored by other key nations.
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