Markets
Copper (COMEX futures)
The price copper miners sell at, and the bellwether of global industry: electrification, grids, EVs and Chinese construction drive it. Copper explorers' valuations swing with it because a deposit's worth is the copper price times the metal in the ground.
What drives the copper price
Copper is the metal of electrification - grids, EVs, renewables and data centres - and of Chinese construction and manufacturing. Supply is slow to respond: new mines take a decade, grades are falling and output from Chile, Peru and the DRC is prone to disruption.
Copper explorers trade on the copper price times the metal they might find, so they move harder than the producers. What moves copper stocks - ASX copper stocks.
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