Copper's Resurgence Prompts Domestic Asset Reactivation

Benzinga

Copper prices rose 1.8% after Powell’s rate cut signal, with optimism for $12K/ton driven by supply shortages and electrification demand. BHP and Rio Tinto are reopening U.S. mines as copper ETFs surge 66% YTD.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Copper prices climbed this week after Federal Reserve Chair Jerome Powell

00:05sitting on another quarter-point rate cut, lifting prices up 1.8 percent

00:09and reviving optimism about reaching $12,000 per ton.

00:13Analysts say the market now trades more on its own fundamentals than on macroeconomic sentiment,

00:17with focus shifting to structural shortages and rising electrification demand, according to Benzinga.

00:22Wood McKenzie projects global copper demand to rise 24 percent by 2035

00:27to 42.7 million tons annually, warning mine supply is lagging.

00:32Producers are reviving old copper mines and reprocessing tailings

00:35as a faster, cheaper alternative to building new projects,

00:38leveraging existing infrastructure and permits.

00:40PHP is exploring the reopening of four long-closed copper mines

00:43in Arizona's Globe-Miami region and reprocessing tailings

00:47spurred by pro-mining policy shifts under Trump.

00:50Effort includes the Magma mine, part of the Resolution Copper venture with Rio Tinto,

00:54which could eventually supply about 25 percent of U.S. copper demand.

00:58The GlobalX copper provider's ETF is up 66.31 percent year-to-date.

01:03For all things money, visit Benzinga.com.

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