I thought this Wood Mac 'Champagne supercycle on horizon' article might be of interest. Access it via the Tweet below:
Extracts from Wood Mac report
"Another commodities supercycle is on the horizon, but it will be different from any that have come before, Wood Mackenzie asserts in its latest report.
For the first time in the mining industry’s history, a paradigm shift in demand has been clearly signposted before it materialises.
But this time, as the saying goes, it’s different. While previous cycles lavished windfalls on the entire natural resource sector, the forces shaping this nascent boom are unlike any other. For the first time hydrocarbons will be bystanders, while those metals critical to the energy transition will take centre stage with a sustained period of extraordinary demand growth.
The winning commodities from the energy transition are a set of industrial metals that will electrify society: copper, cobalt, nickel, lithium and aluminium.
Simply put, without a huge increase in the supply of the mined commodities used to create renewable energy, transmit electricity or build enabling technologies, there is currently no way to meet the world’s carbon-reduction targets."
For the 'Cliff Notes' version of this Wood Mac report, please see the article via the following Tweet:
Note: the current copper price cycle has been called a 'supercycle' by Goldman Sachs, with it forecasting a copper price target of US$15,000/tonne (US$6.80/lb) for the year 2025.
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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