BHP bets billions on Chile mines to face global copper crunch
BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years.
Could copper’s vigorous breakthrough serve as a reliable portent of a bullish trend in the equities market and elsewhere?
John DiCecco writing on Seeking Alpha notes that copper prices often serve as bellwether for broader market trends and that the precious metal is referred to as “Dr. Copper” by “many market pundits for its ability to signal whether the global economy is expanding or contracting.”
DiCecco goes on to ask whether the recent rise in copper prices is merely the provisional result of China’s unveiling of 1 trillion yuan in infrastructure spending last week, or significant of a broader bullish market trend.
