From this morning's Fin Review:
Copper is back as investors cash in on reflation trade
‘‘We will see copper grow as a share of exports, and while Chinese demand for iron ore will remain strong, it won’t be anywhere near the growth rate it’s seen over the last 15 to 20 years,’’ says AMP’s chief economist, Shane Oliver.
‘‘But it feels like we’re going on a fresh run and we’re now at the start of a multiyear rally for metals, and equities have been a big underperformer to commodity prices, so there’s a lot of room to catch up.’’
Tribeca’s Ben Cleary has been waiting for years for the copper price to break out of the narrow $US8000 to $US9000-a-tonne range it has been stuck in.
The commodities specialist believes this is just the start, and is tipping the metal will rocket a further 60 per cent to $US15,000 a tonne in coming years.
From this morning's Fin Review: Copper is back as investors cash...
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