Copper prices rise amid supply squeeze

Copper (HG=F) prices have risen this year amid a supply squeeze. Wells Fargo Head of Real Asset Strategy John LaForge joins The Morning Brief to discuss what is driving copper prices higher and the commodity's outlook.
"We, frankly, are not producing enough copper, and yet, there are buyers everywhere right now for copper," LaForge says. However, he explains that the recent rise "was much more speculator-based and wasn't about fundamentals."
He adds that commodities have been among the "best-performing major assets out there" since the coronavirus pandemic despite often being overlooked. "Decade after decade, mankind uses more and more commodities, so you have demand going up all the time," he explains. Major factors that impact commodities usually boil down to underlying fundamentals rather than geopolitical roadblocks, LaForge notes.
"We were running dry on refined product. And you had some speculators come in and take advantage of that on a futures basis," LaForge says. He adds that despite this bump in the road, demand will continue to surpass supply, driving prices higher.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance
#copper #minerals #yahoofinance

[@bruce5895]

Gold and Silver are Real Money, all the rest is just credit on borrowed time.

[@nixic_]

Factually incorrect but hey someone has to enrich those gold scammers

[@bruce5895]

@@nixic_ Gold and Silver are now Tier One assets, Gold is reconized as the highest form of payment on the planet according to the international bank of settlements. Silver is now listed as a critical mineral on Canada's Critical Minerals List. 14 States have all passed laws now listing Silver and Gold as legal tender. All fiat currencies go to zero value over time, except the real currency itself which is gold and silver.

[@riteshgoswami78]

Bought into Revux with the belief that its success is inevitable. The project's unique offerings and forward-thinking approach set it on a path to excellence.

[@DurgaMayaChetry]

Revux success is not just a possibility; it's a conviction that drives my investment decisions. The project's potential to disrupt the industry is truly remarkable.

[@dbased1915]

i bought 80 1 pound bars yesterday . Mostly in tech and crypto but have some in metals

[@john-smith.]

Time to turn in your scrap wire.

[@user-in6tn5uz9c]

Revux success is not just a possibility; it's a certainty in my investment strategy. The project's unique features and community-driven approach set it apart for long-term growth.

[@yongkaiphomchingkong5694]

Believing in Revux success, I see it as a cornerstone in my crypto portfolio. The project's commitment to excellence and innovation is truly commendable.

[@pintugamer8276]

Firmly bought into Revux, guided by the belief that its success is on the horizon. The strategic partnerships and visionary roadmap make it a standout investment.

[@usmankhan-hk4pb]

Proud to be an investor in Revux, driven by the strong belief in its success. The continuous advancements and community enthusiasm reinforce my confidence in this crypto gem.

[@MrMountain707]

Tweakers about to cash in!

[@SandhayaWaghmare-uc3ms]

Investing in Revux is a testament to my belief in its success. The project's vision, coupled with its strategic direction, positions it for significant growth in the crypto market.

[@DeepakKumar-gi8gi]

Invested in Revux with the unwavering belief that its success will surpass expectations. This is more than an investment; it's a journey towards revolutionary changes in the crypto space.