Lobo Tiggre On Why Copper is the Most Important Commodity For the Next Decade
Copper, often hailed as the “metal of electrification,” is an unsung hero of the commodities space. While gold, uranium, and even silver are often a first choice when it comes to investing in commodities, copper could become the next big thing in the space as demand for the essential metal increases.
An S&P Global report released in July found that world copper production will need to double by 2035 in order to meet emissions targets, reports a recent Financial Post article.
In a recent interview with Commodity Culture, Lobo Tiggre from the Independent Speculator said that to him, copper is “the most unquestionably” going to be an important commodity over the next decade, even when compared to high-profile commodities like gold or uranium.
“It’s just a no-brainer,” said Tiggre.
This shift in the commodities space will largely be driven by increasing demand for copper as electric vehicles and other “green” energy technologies continue to dominate the clean energy conversation, all while experts predict looming copper shortages in the near future.
“Everybody knows…there’s just not going to be enough of it, and it’s getting harder and harder to permit mines big enough to matter,” said Tiggre, adding that “difficulties in copper [supply] look baked in the cake for not just the decade, but decades to come.”
However, Tiggre warned, from an investor perspective no one should go all in on any one commodity, and that a “basket approach” is best when it comes to investing in metals or any industry.
So, is now a good time to be sitting in the copper space? Tiggre believes that “It is a time to be looking, for sure,” adding that we are currently in a commodity supercycle that is bullish for all commodities, including copper.
The price of copper has recovered slightly in the last month and is currently sitting at just over $3.60, showing steady increases since its 52-week low of $3.2115 in July.
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