Use any weakness in copper stocks as an opportunity.
Freeport McMoRan (FCX), Southern Copper (SCCO), even the Global X Copper Miners ETF (COPX) are just a few to keep an eye on.
After all, copper shows no signs of cooling.
All thanks to tight supply, and a substantial increase in demand, which lead to Goldman Sachs saying copper could rally to $15,000 by 2025. The firm also believes annual demand for copper could skyrocket 900% to 8.7 million tons by 2030.
According to Wood Mackenzie, as noted by NS Energy.
“By 2040, we predict that passenger electric vehicles will consume more than 3.7 million tonnes of copper every year. In comparison, passenger internal combustion engine vehicles will need just over 1 million tonnes. “If we look at cumulative demand between now and 2040, passenger electric vehicles will consume 35.4 million tonnes of copper – around 5 million tonnes more than is required to meet current passenger internal combustion engine demand.”
