Chart, page-101

Buying opportunity in RXM at this point in time IMO - copper still poised for cyclical updtrend

AMP chief economist today - “In fact, there is good reason to believe a new commodity super cycle (ex-iron ore) has begun, which should benefit Australia,” he wrote. ….The only danger will be overproduction as too many players try to get a leg up into the market. But there are good reasons to think that this time any overproduction won’t trigger a slide in prices it did five years ago because battery demand is surging as more and more electric vehicles are produced and sold, and the world’s biggest car companies move deeper into their production which is a key difference to the previous boom.That in turn is feeding into the boom for copper, nickel, cobalt, aluminium, as well as lithium. ….China has refused to bid prices higher, so its copper metal and concentrates purchases have fallen for much of this year. To offset this, China has been selling metals from its strategic reserves, but those sales can only go so far before the government will need to replenish those reserves…. DYOR