Bank of America recently issued a stark warning that a copper crisis may be imminent after copper prices jumped to a 14-month high on Monday. What do you need to know about copper lately?
Copper stocks have continued to rally in 2024. According to the International Energy Agency, the global demand for copper will double over the next two decades as the world marches towards electrification and sustainable energy solutions.
Rio Tinto Ltd (LON: RIO) is in the green at writing after naming Bold Baatar its new chief commercial officer. Rio Tinto is committed to expanding in copper Baatar has been with the mining giant since 2013 – at present serving as its chief of copper operations.
The company's valuation looks extremely favorable given the current price of copper. Leaching initatives and expansion capability mean it's well placed to benefit from higher copper prices.
As copper futures continue to trade near record highs, a significant development has emerged from China. Major copper smelters are contemplating output reductions.
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