Copper Surges to Record High on Bets of a Looming Shortage
Up or burst through 11,000 this morning to a new record. Over the past few months, there's been a flood of investor money coming into copper from investment funds looking to buy into this metal where they see demand rising, supply not rising so much over the next few years. There's just a lot of bullishness about you mentioned Geoff Curry there. He is famously bullish observer of the copper market said it's the. It's the best long trade he's ever seen. But all of this country is a strange contrast with what's actually happening in the copper physical market. We've seen some signs of soft demand. Particularly in China, where I am, people not so enthusiastic about the market, so the speculators do seem to be betting on copper prices, copper demand and the market being tight over the next 12 months rather than right now.