Copper prices have surged to record highs and they could jump higher. Heres why
News Source : CNN
News Summary
- Copper prices have soared 39% this year, outpacing the S&P 500’s 6% gain.
- Copper is highly conductive, making it a critical input for electrical and electronic products.
- It takes almost 32 years, on average, from the discovery of mineable copper in the US to production.
- The United States in 2024 mined an estimated 1.1 million tons of copper, according to the US Geological Survey.
- The typical American-made car has over 50 pounds of copper.
The wire drawing area at CN Wire Corporation in Santa Teresa, New Mexico, on March 31. US copper prices have been on a tear this year due to the fear that tariffs will be imposed on imports of the re [+9496 chars]
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