We believe that copper prices could remain unusually high for the next 6-12 months and should continue to generate extraordinary earnings for copper producers.
Copper is showing very strong performance as mine disruptions take place and are likely to continue. With copper looking set to remain in deficit this year and next, any supply problems are keenly felt.
Strong copper and molybdenum production combined with far higher than expected copper and molybdenum prices have driven earnings far beyond many expectations.