The conservation-minded will gesture at soaring demand from wind farms and solar. The real biggie is equipment manufacturing, where the uninterrupted supply of copper is essential and price-insensitive - higher costs just get passed down the chain to consumers.
The clear-eyed will know of Australia's major enhancements to our electricity grid. While the wires may be aluminium, the high value bits - transformers, switchgear - all use large volumes of copper. This grid transformation is being replicated in every transmission system in every country.
Commentators gesture at China copper stocks and their many closed smelters. The real position there is opaque, though their build-out of power generation and embrace of EV's is visible to all.
Soooo bullish.
Ash
A1M Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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