Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
More big miners will likely follow the world’s largest gold company into the copper sector as the metal’s price soars alongside Chinese industry’s growing hunger for it, experts say.
The article says that even with the commodities sell-off this week that effected a dip in the copper price, there are still huge profits to be made in copper compared to other metals, quoting Scotiabank commodities specialist Patricia Mohr. Meanwhile copper is still being seen as a worthwhile investment because the supply cannot keep up with the demand.
