Book 6% Profits in 3 Weeks: Copper Prices Inching Towards $10,000
Copper prices have picked up steam in March as the metal is steadily scaling up in the indices. Prices have climbed above the $9,500 mark as the bulls are looking to regain control of the $10,000 range. The industrial-grade metal had hit an all-time high of $10,857 in May last year and is now looking to reclaim its lost territory.
Also Read: The U.S. Dollar is Losing Luster: Reuters Poll
Commodity investors could make use of the rally by taking an entry position in copper as prices could hit $10,000 by the month’s end. That’s an uptick and return on investment of approximately 5% to 6% from its current price of $9,595. Therefore, an investment of $10,000 could turn into $10,500 in the next three weeks if it maintains its positive momentum.
Also Read: AI Forecast: How High XRP, ADA, SOL May Surge Post The Crypto Summit
Copper Stocks Could Gain the Most
As prices soar, leading stocks could see a surge this month and could become the top-performing assets in March. US stocks such as BHP Group, Freeport-McMoRan, Teck Resources, Southern Copper, and Rio Tinto could gain the most. The metal is among the most important minerals in industries to manufacture automobiles, combusting engines, and wind turbines.
Also Read: Ripple’s Kangaroo Phase Analysis: XRP Is Targeting $13, Here’s How
The functioning of industries, electric vehicles, and electric grids need the metal to operate. “Copper is not just another base metal, it is extremely important. Every American requires 12 pounds of copper to maintain their standard of living,” said American Pacific CEO Warwick Smith to Kitco News.
“With projects like our Madison Copper-Gold project in Montana and Palmer Copper-Zinc project in Alaska, we are well-positioned to potentially supply the growing domestic demand for copper, a critical metal for the US economy and clean energy transition,” he said indicating that stocks could spike in value.
“Copper is on a steady trajectory higher,” he said. “The supply of copper down the road is not going to be adequate to meet demand. Copper prices are going to find their traction out of necessity more than anything else.”
Read More
IMF Warns Negative Supply Shock Incoming, Forecasts ‘Significant Slowdown’ of Global Economy
Whale Activity Shifts BIO Tokens in Significant Moves
Book 6% Profits in 3 Weeks: Copper Prices Inching Towards $10,000
Copper prices have picked up steam in March as the metal is steadily scaling up in the indices. Prices have climbed above the $9,500 mark as the bulls are looking to regain control of the $10,000 range. The industrial-grade metal had hit an all-time high of $10,857 in May last year and is now looking to reclaim its lost territory.
Also Read: The U.S. Dollar is Losing Luster: Reuters Poll
Commodity investors could make use of the rally by taking an entry position in copper as prices could hit $10,000 by the month’s end. That’s an uptick and return on investment of approximately 5% to 6% from its current price of $9,595. Therefore, an investment of $10,000 could turn into $10,500 in the next three weeks if it maintains its positive momentum.
Also Read: AI Forecast: How High XRP, ADA, SOL May Surge Post The Crypto Summit
Copper Stocks Could Gain the Most
As prices soar, leading stocks could see a surge this month and could become the top-performing assets in March. US stocks such as BHP Group, Freeport-McMoRan, Teck Resources, Southern Copper, and Rio Tinto could gain the most. The metal is among the most important minerals in industries to manufacture automobiles, combusting engines, and wind turbines.
Also Read: Ripple’s Kangaroo Phase Analysis: XRP Is Targeting $13, Here’s How
The functioning of industries, electric vehicles, and electric grids need the metal to operate. “Copper is not just another base metal, it is extremely important. Every American requires 12 pounds of copper to maintain their standard of living,” said American Pacific CEO Warwick Smith to Kitco News.
“With projects like our Madison Copper-Gold project in Montana and Palmer Copper-Zinc project in Alaska, we are well-positioned to potentially supply the growing domestic demand for copper, a critical metal for the US economy and clean energy transition,” he said indicating that stocks could spike in value.
“Copper is on a steady trajectory higher,” he said. “The supply of copper down the road is not going to be adequate to meet demand. Copper prices are going to find their traction out of necessity more than anything else.”
Read More
IMF Warns Negative Supply Shock Incoming, Forecasts ‘Significant Slowdown’ of Global Economy