Soaring demand for copper will help drive mergers, BHP CEO says
Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Mike Henry said
For the second year in a row, people -and commodity analysts such as those at TD Securities and the Bank of Montreal- are being bullish on silver. This is according to a survey conducted by precious metals retailer Kitco among the readers of its website.
Some 151 people, or 39% of the sample of 386 participants, chose silver as 2018’s most likely outperformer, with gold taking the second place with 27% of the votes, followed by copper with 25%, palladium with 5% and platinum with 4%.
“Despite the optimism, silver has underperformed within the sector, up 5% since the start of the year. Gold is up more than 12% since the start of the year,” journalist Anna Golubova writes in the survey report.
And copper is not doing bad either. On Wednesday, the red metal surged to the highest in almost four years, fueling a 2017 rally that has seen continued gain sessions in the past month.
March Comex copper was last $3,286 a pound, up 0.2%, while February Comex gold was at $1,292.2, up 0.37% and March Comex silver was last at $16.76, up 0.97% on the day.
