By BUUMBA CHIMBULU A 120 year chart has shown that copper price super cycle is only starting with Zambia and the Democratic Republic of Congo (DRC) not being far behind.While hedge funds have gone soft on copper, the metal continues to trade within striking distance of all-time highs, according to Neal Brewster, chief economist at the fast-growing metals and chemicals research firm headquartered in London.Copper is currently trading above US$10,141 per tonne, while the most-traded July copper contract on the Shanghai Futures Exchange fell 1.4 percent to US$11,426.29 a tonne.At a virtual copper summit recently, Mr Brewster presented a graph that puts copper’s current rally in perspective, a 120-year long perspective.The chart not only showed some correlation between copper and oil prices and with its broader inflation, but also with nationalisation and privatisation trends for natural resource assets through the decades.Commenting on the chart, Mining. Com stated that it bears’ most convincing argument that the […]
COPPER PRICE IN SUPER BOOM
