Copper “the foothills of what will be its Everest” -- Goldman Sachs ...Middle East

The rally in copper this year has flown mostly under the radar with so much else happening in markets but it's one that many people -- including Goldman Sachs' commodity team and me -- have written about for a long time.Goldman's paper called 'copper is the new oil' is one of the most well-read research papers of the decade. The thesis is well known as copper grades are declining and there have been zero new projects approved this decade. In addition, the green transition (plus possibly AI) will require large amounts of copper and there's a setup for a structural deficit that will be very hard to solve without much higher prices.That most had 2025 or 2026 ciricled as the year that deficit st

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Copper “the foothills of what will be its Everest” -- Goldman Sachs ...Middle East

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