Of course, it is a consequence of the global economic recovery from the corona crisis when the prices for all possible raw materials have risen sharply in the past twelve months.
"Doctor Copper" is what the stock exchange traders call the copper price, which is said to diagnose the health of the global economy at an early stage.
It has shown a clear upward trend since last year, albeit with fluctuations due to progress and setbacks in overcoming the pandemic.
However, especially with copper, it is also clear that after the pandemic everything does not have to be as easy as it was before. Investors are speculating, for example, on a change in the economy in which the digital will play a stronger role than in the past and in which climate protection will also play a greater role. But if the number of electric cars and data centers increases, and so does that of wind turbines and solar systems, a lot of new copper cables are needed to transport electricity between the various players. If that happens, at least the rise in the price of copper would be a longer-term phenomenon.
Therefore, on the one hand, it is true that the current raw materials bull market should not last forever - on the other hand, one should not underestimate the possibility of changes of a more fundamental nature with regard to the demand for raw materials after the crisis.