In order to fill the market’s potential copper deficit of 8 million tons by 2034, mining companies need prices above $10,000 – $12,000 per ton. Trafigura CEO Jeremy Weir says copper needs to rise above $10,000 to meet demand. The announcement was made Tuesday during a presentation at the CRU World Copper Conference in Santiago, where the copper industry gathers for one of the industry’s largest annual events. Trafigura Group is the largest and leading mining company for the most sought-after metal on the planet. Such events usually happen for a reason, and if there is a shortage, then there is demand, and it usually accelerates quotes into space.
Invest amid the seize the Bitcoin Boom
Bitcoin is once again approaching its all-time high, yet this surge in price has not significantly increased retail investor interest. Despite hitting $73,562 on October 29, the cryptocurrency's popularity among retail investors remains tepid, with search trends and app rankings showing little change.