Copper prices doubled during the pandemic, as the industrial staple benefited from a supply crunch, surging consumer spending and the accelerating transition to renewable energy systems.
What does copper tell us about the post-pandemic economic environment? Copper is used in so many products that it´s a bellwether on how the world economies are doing. The price of copper is likely to keep increasing, and the reason is the lack of more supply, the increased demand coming about as the world is now getting back with both feet on the ground, and it´s moving forward with expanding economies.
Governments around the world have launched economic recovery packages in response to the recession brought on by the pandemic. However, the question is whether copper producers are prepared to leverage this new era for their development.
Difficult words: staple (a principal raw material or commodity grown or manufactured in an area), bellwether (a leader or sign of trends), leverage (to use something to maximum advantage), recession (a time when many businesses lose money).
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