Ann: ADDITIONAL COPPER HEDGING FOR TRITTON, page-101

True, but it will also go up further. Its supply and demand. I've been watching the Cu stocks and the cancelled warrants for many years. Often when the price goes up a large supply is put back onto the LME, its not happening at present. Whilst there could still be large stocks of copper undeclared floating around I feel its unlikely.
If it doesn't happen shortly then they might be exhausted.
The Covid-19 slowdown in Chile has cut supply and the Chinese infrastructure and domestic appliance spending is upping the demand.
I would think that we'll see some consolidation around the US$4.00/lb and there'll be buying on the dips. The next leg up might be a few months away, but the push for EV's in Europe and the required infrastructure will increase demand and it will come. The Copper price is also pushed UP by the amount of cancelled warrants as you need to know how much copper is actually available for sale.
US$4.50/lb is on the cards by mid 2021 and US$5.00/lb maybe by the end of this year.
Whether the price will hold depends on supply ramping up.
Hindsight is everything, but so is research and thats why I hold so many AIS, it was for the copper knowing that this would happen eventually. It did take longer than I thought and another 1.4 BILLION shares came along to spoil my party.