Just What the Doctor Ordered
Copper prices hit an eight-year high in January, reaching US$8103/t on the London Metal Exchange, with analysts predicting the price rise to continue in 2021, as high as US$9500/t in the fourth quarter. The green energy drive by global governments, the transition to electric vehicles and the push by the mining industry to lead the ESG movement through decarbonisation and emissions reductions, sees the demand for copper rising in the medium term as supply struggles to catch up. After falling to its lows in March 2020 where it plummeted to around US$5000/t from the COVID-19 lockdowns, prices have rebounded sharply since June, reaching US$5700/t that same month, followed by further highs of US$6800/t in September and US$7674.50/t in December. ABN...