Copper – Its History and Prospects as an Investment Opportunity in 2018 Video
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Copper – Its History and Prospects as an Investment Opportunity in 2018
Today is Monday 18th June 2018 and we are discussing the prospects for Copper and to assess whether it presents an investment opportunity or not.
Copper prices had a rocky start to the year, declining more than 6% in the first three months of 2018. Increasing geopolitical concerns, rising warehouse inventories and a weaker Chinese demand put pressure on prices.
Despite this, some analysts remain cautiously optimistic about its future and expect prices to pick up in the next few months.
Well Before we examine the prospects lets just take a brief look at its more recent and not so recent history.
Firstly we ask the question ‘what is copper?’
We shall now proceed to some basic copper facts for investors looking to get into the market.
Construction is the largest application for copper worldwide. It is estimated that 40 percent of all copper is used by the construction industry. A home can contain on average 439 pounds of copper in wiring, pipes and appliances, while a car can contain 50 pounds of copper in its motor, connectors and brakes.
Because homes are so reliant on the semi-precious metal, copper prices are tied to the health of housing markets. The second-largest market for copper is the electrical and electronics space due to the metal’s excellent conductivity. This arena now includes electric vehicles.
In terms of volume, Asia has dominated copper consumption for years; estimates suggest nearly 60 percent of all copper is used in this region.
Today, China is still responsible for over 40 percent of global copper demand, with the US and EU following as the next most prominent buyers of the metal. With an expanding urban population, India is also worth noting as a major copper consumer.
Chile is the world’s largest copper producer, producing more than double the amount of the next highest producer, Peru.
We should compare these figures however looking at the last 5 years where copper stood in 2013 at just over $3.50 per pound or $8,000 per metric tonne, falling to $2 per pound or $4,500 per metric tonne in 2015 and today standing a little over $3 per pound or $7,135 per metric tonne.
Our view obviously with the benefit of hindsight the time to buy was in 2015. With supply increasing and current prices resting near to the top of the highest forecasts for the year, we would not ourselves be too keen to invest right now. That said, the demand for copper will undoubtedly rise, save a world economic recession and it certainly appears that prices at or around $2.50 per pound or below $6,000 per tonne are very attractive indeed and certainly would prompt us to speculate in this market. Whether we will get there or not is uncertain but its certainly within the past 52 week’s low for the price.
Please view our recent videos:
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